China's Crude Steel Output Up 4.2% Year-Over-Year in July 2012

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Researched by Industrial Info Resources China (Beijing, China)--China's crude steel output reached 61.69 million metric tons in July 2012, up 4.2% year-over-year, which was 11.3 percentage points lower than the growth rate in the same period last year. The output of steel was 81.22 million metric tons, an increase of 6.5% year-over-year, while the growth rate in the same period last year was 14.9%. The output of coke was 37.35 million metric tons, an increase of 1.2%, but the growth rate was 18.6 percentage points lower than the previous year. The output of ferroalloy was 2.54 million metric tons, an increase of 8.8%, but the growth rate was 21 percentage points lower than the previous year, according to "Operation Report for the Iron and Steel Industry in July 2012," announced by the National Development and Reform Commission on August 16, 2012.

In regards to imports and exports in July 2012, the import of iron ore reached 57.87 million metric tons, an increase of 6.09% year-over-year; the export of steel reached 4.32 million metric tons, a drop of 2.7%, while the import of steel reached 1.16 million metric tons, a drop of 7.94%; and the export of coke reached 110,000 metric tons, a drop of 38.89% year-over-year, or 40,000 metric tons less over the previous month.

From January to July 2012, the accumulative output of crude steel reached 419.46 million metric tons, an increase of 2.1% year-over-year, which was 8.2 percentage points lower than the growth rate in the same period of last year. The output of steel was 548.96 million metric tons, an increase of 6.1% year-over-year, while the growth rate in the same period of last year was 13%. The output of coke was 261.53 million metric tons, an increase of 5.8%, but the growth rate was 7 percentage points lower than the previous year. The output of ferroalloy was 17.19 million metric tons, an increase of 9% year-over-year, but the growth rate was 12.9 percentage points lower than the previous year. The accumulative import of iron ore reached 423.75 million metric tons, an increase of 9.1% year-over-year; the export of steel reached 31.55 million metric tons, a drop of 9.7%, while the import of steel reached 8.11 million metric tons, a drop of 12.5%; and the export of coke reached 690,000 million metric tons, a drop of 73.6%.

Regarding the market situation, the price of steel products has gradually declined. In June 2012, the average comprehensive steel price index was 112.03, a drop of 3.84 points compared with the previous month, or 22.07 points year-over-year. The average price of 6.5-millimeter wire, 20-millimeter medium and thick plate, and 1.0-millimeter cold-rolled sheet was $616.57, $618.91 and $745 per metric ton, respectively, a drop of 4.8%, 4.8% and 3.4% compared with the previous month, or 20.3%, 19.2% and 12.8% year-over-year, respectively.

From January to June 2012, the profit of iron and steel industry reached $10.38 billion, a drop of 49.4% year-over-year. The profit of the mining and processing of ferrous metal ores reached $5.59 billion, a drop of 14.5% year-over-year; and the profit of the iron and steel smelting and processing industry was reduced to $3.89 billion, a drop of 68.1%.

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