China News Agency, Beijing, October 26 (Reporter Ruan Yulin) China's steel production remained stable in the first three quarters of this year, with a slight increase in output.
The China Iron and Steel Association said on the 26th that China's crude steel output is expected to exceed 1 billion tons this year, a year-on-year increase of 3% to 5%.
According to data from the National Bureau of Statistics, from January to September, China's crude steel output was 781.59 million tons, a year-on-year increase of 4.5%; pig iron output was 66.548 million tons, a year-on-year increase of 3.8%; steel output was 96.24 million tons, a year-on-year increase of 5.6%.
From a quarterly perspective, crude steel production in the first quarter increased by 1.2% year-on-year, the second quarter increased by 1.7% year-on-year, and the third quarter increased by 10.3% year-on-year.
Qu Xiuli, vice chairman of the China Iron and Steel Association, said at a press conference held in Beijing on the 26th that the downstream industry is recovering rapidly, driving demand growth significantly.
According to estimates, from January to September, the apparent consumption of crude steel nationwide was 769 million tons, an increase of 8.94% year-on-year, and the growth rate was 1.7 percentage points higher than that from January to August.
The launch of major national investment projects and the rapid recovery of downstream industries such as automobiles and home appliances have stimulated demand for steel, and the steel industry has played an important supporting role in the recovery of the national economy.
Qu Xiuli said that since the beginning of this year, in the face of the huge impact of the new crown pneumonia epidemic and the complex and severe domestic and foreign environments, the steel industry has adhered to the “dual-line” response to epidemic prevention and control and stable operation, maintaining steady growth in production, a slight rebound in prices, and gradual benefits. The industry’s operating situation has improved, but it is also facing difficulties such as high raw material and fuel prices, rising costs, and falling exports.
"At present, China has achieved major strategic results in the fight against the new crown pneumonia epidemic, and the rapid economic recovery has led to significant growth in steel demand." Qu Xiuli said that the steel industry will maintain a steady and progressive development trend to further meet the needs of high-quality development in downstream industries. The demand for steel products has realized the smooth operation of the industry.
The China Iron and Steel Association stated that it is expected that China's crude steel production and steel consumption will maintain year-on-year growth this year.
In the fourth quarter, China's economy will continue to grow. Driven by the implementation of the "six stability" and "six guarantees" policies, downstream steel demand will also continue to recover.
However, as the weather in the north turns cold, the intensity of steel demand will decline, and the growth rate of steel production will decline.
The annual output of crude steel is expected to exceed 1 billion tons, a year-on-year increase of 3% to 5%.
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