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China crude steel production hit a record high in May

From: Qianzhan Business Information Time: 2014-06-16 15:37:43
Summary: Despite suffering from weak demand and credit tightening pressure, China May crude steel output still grew by 2.6% year on year to 70.43 million tons, a record high. Steel consumption in the second quarter of the season, plus ore and other raw materials prices fell enhance profitability per ton, steel prices to stimulate production of enthusiasm.

Despite suffering from weak demand and credit tightening pressure, China May crude steel output still grew by 2.6% year on year to 70.43 million tons, a record high. Steel consumption in the second quarter of the season, plus ore and other raw materials prices fell enhance profitability per ton, steel prices to stimulate production of enthusiasm.

The maximum depreciation of the RMB against the U.S. dollar since the beginning of more than 3 percent, to pave the way for the expansion of steel exports will boost exports become a major highlight of this year's steel demand. May China's steel exports data corroborated this point, the data show that in May steel exports reached 8.07 million tons, the highest level since the financial crisis.

China steel industry

This year's profit during the January-February mills face relatively high ore price (average price of about $ 120 / t) national large-scale loss situations, however, the raw materials into end after March fell more than finished products, the smelting margins to improve , and into the beginning of May after the narrowing of profit, and then remained positive profits.

According to "China Steel Trade Industry Development Prospects and Investment Strategy Report, 2013-2017", May crude steel production was 70.43 million tons, a record high, average daily production was 2.272 million tons, down slightly from April levels; 345.25 million tons of crude steel production by May, an increase of 2.7 %, steel production increased by 6% over the same period to 452.6 million tons.

Customs data also show that in May China's steel exports 8.07 million tons, an increase of 7% in the ring, an increase of 49.2%; January-May China exported 33.94 million tons of steel, an increase of 33.6%.

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