The national development and Reform Commission recently announced the operation of the iron and steel industry in November 2021. In November, China’s crude steel output was 87.66 million tons, a year-on-year increase of 8% and a year-on-year increase of 4 percentage points; Steel production increased by 10.8%, with a year-on-year increase of 0.4 percentage points. Coke production increased by 4.5%, down 0.4 percentage points. Ferroalloy production decreased by 8% and increased by 13.6% in the same period last year. Steel exports were 4.4 million tons (Customs Statistics), an increase of 360000 tons over the previous month; Imports were 1.85 million tons, a decrease of 80000 tons over the previous month.
From January to November 2021, China’s crude steel output was 96.116 million tons, a year-on-year increase of 5.5%, and the growth rate decreased by 1.5 percentage points year-on-year; Steel output was 120.03 million tons, an increase of 7%, down 3 percentage points. Coke output was 431.7 million tons, a decrease of 0.2% and an increase of 5.9% in the same period of last year. Ferroalloy output was 32.18 million tons, a year-on-year decrease of 2.8% and a year-on-year increase of 13.1%. The export of steel was 48.83 million tons, a year-on-year decrease of 18.1%; Imports were 18.86 million tons, an increase of 74.3%. The import of iron ore was 1073.35 million tons, an increase of 10.9%.
Steel prices rose over the previous month. In November, the composite index of steel prices in the Chinese market averaged 111.76 points, an increase of 4.75 points over the previous month and 5.21 points year-on-year. The average price of 6.5mm high-speed wire was 4250 yuan / ton, an increase of 7.3% over the previous month and 2.8% year-on-year; The average price of 20mm medium plate was 3993 yuan / ton, an increase of 0.8% over the previous month and 6.7% year-on-year; The average price of 1.0mm cold rolled sheet was 4950 yuan / ton, an increase of 4.1% over the previous month and 14.2% year-on-year.
(China Securities Journal · China Securities Network)
