1. Adequate supply of steel products.
According to estimates by the China Iron and Steel Association, in May, the country’s crude steel production was 98.08 million tons, a year-on-year increase of 6.3%; pig iron was 77.27 million tons, a year-on-year decrease of 0.1%; steel products were 122.69 million tons, a year-on-year increase of 7.1%.
2. Steel prices have risen and fallen.
According to data from the China Iron and Steel Association, in mid-May, China's steel composite price index rose to 174.81 points, which is a record high, and then quickly dropped. By the end of May, China ' s steel comprehensive price index was 144.07 points, which was 3.2 % lower than the end of April and 17.6 % lower than the highest point.
3. The growth rate of steel exports slowed down.
According to data from the General Administration of Customs, China exported 5.27 million tons of steel products in May, a year-on-year increase of 19.8% and a month-on-month decrease of 33.9%. A total of 30.92 million tons of steel products were exported from January to May, a year-on-year increase of 23.7%. In May, China imported 1.21 million tons of steel, a year-on-year decrease of 5.8% and a month-on-month increase of 2.7%. From January to May, a total of 6.1 million tons of steel were imported, an increase of 11.6% year-on-year.
4 The price of imported iron ore rebounded from a high level.
According to China Iron and Steel Industry Association data, in mid-May, China ' s imported iron ore prices rose to 230.6 dollars / ton, which is a record high, then fell back to 180.7 dollars / ton and rebounded. As of June 9, the price of imported iron ore rebounded to US$210.3/ton, and it is still at a high level.
5. Steel inventory is at a normal level.
According to the statistics of China Iron and Steel Industry Association, in late May, the steel inventory of iron and steel enterprises was 13.41 million tons, 0.9 % higher than that in the same period last year, and 0.1 % lower than that in late April. The social inventory of five major types of steel in 20 cities was 10.98 million tons, down 16.3% from the same period last year, and down 14.7% from late April.