In October this year, China's output of pig iron, crude steel and finished steel was 65.55 million tons, 72.0 million tons and 118.64 million tons, down 7.9 percent, 12.1 percent and 0.9 percent year on year and 0.76 percent, 2.0 percent and 4.5 percent month on month, respectively, the National Bureau announced statistics of China. (NBS). While October is typically one of the strongest months in terms of consumption, production results this year were the weakest since 2021, when the market was hit by the Covid-19 pandemic.
Monthly steel production fell below the 80 million tonne mark again in October, as it did in July - the first time this year - and in August and September, with production down 2.0 percent from September. Major cities in Hebei Province significantly reduced production from October 27-31 under a Level II emergency response to reduce pollution. Steel demand in October was weaker than expected, while the National Holiday (October 1-8) also had a negative impact.
In January-October this year, China's output of pig iron, crude steel and finished steel was 711.37 million tons, 817.87 million tons and 1.21759 billion tons, down 1.8 percent, down 3.9 percent and an increase of 4.7 percent year on year, respectively.
China Iron and Steel Association (CISA) announced that in early November (November 1-10) this year, the average daily crude steel output of China's large and medium-sized iron and steel enterprises (all CISA members) was 1.926 million tons, up 6.0 percent from late October (21-31 October).
