MIIT: operation of the steel industry in 2019

• Thursday, March 12, 2020
• Source:ferro-alloys.com

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• Keywords:MIIT， operation， steel industry

[Ferro-Alloys.com] The steel industry operates steadily on the whole in 2019, according to Ministry of Industry and Information Technology (MIIT).

 

Crude steel output hit another record high. Through 2019, the pig iron, crude steel and steel productions are 809, 996, 1205 million tons respectively, and up by 5.3%、8.3% and 9.8% year on year. Domestic crude steel apparent consumprion was 940 million tons, up by 8% vs. the same period of last year.

 

Both imports and exports of steel decreased. According to China Custom, through 2019, China exported 64.293 million tons of steel adn imported 12.304 million tons, down by 7.3% and 6.5% respectively.

 

Steel price moved with in a narrow range and maintained stable as a whole in 2019. The price index value was 107.98, down by 6.77 (5.9%) year on year.

 

According to China Custom, the imported iron ore volume in 2019 kept steady but price rose significantly, which influenced the profit of steel making industry widely.

 

The economic benefits of steel industry declined sharply in 2019. The profits of China Iron & Steel Association members declined by 30.9% than the same period in 2018.（Translated by editor）

 

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• [Editor:kangmingfei]