November crude steel production slightly decreased

On December 26, the National Development and Reform Commission stated in the official website that in November this year, the country’s crude steel production decreased by 0.2% year-on-year, and steel production increased by 7.8%, an acceleration of 3.2 percentage points year-on-year. At the same time, according to the press release, in the first 11 months of this year, the country’s crude steel production was 6.309 billion tons, an increase of 9.8% year-on-year, and the growth rate was 0.3% lower than the same period of last year; steel production was 81.10 million tons, an increase of 13.1%, slowing by 2.6 percentage points.

In recent years, China’s crude steel production has been hovering at a high level. Taking the first half of this year as an example, it not only set a record of production of about 2 million tons of crude steel per day, but also continued to increase. However, in the second half of the year, as the prices of iron ore and steel continued to tumble, the production enthusiasm of Chinese steel companies also suffered setbacks. In November, the daily output of crude steel even fell to its lowest point since this year, which in turn caused market participants to “poorly” The first year of November saw a drop in the output of crude steel in the same period last year and a slowdown in the increase in crude steel production in the first 11 months.

However, in the first 11 months of this year, China's crude steel production still exceeded its annual output last year. The data shows that in 2010, China's crude steel production was 626.5 million tons. According to the forecast of previous institutions, China's crude steel production in 2011 will exceed 650 million tons, and it is expected to account for about 40% of the world's crude steel production (British Steel Information Corporation's MEPS is expected to be 1.5 billion tons).