China News Service, Beijing, November 17 (Reporter Liu Yuying) According to the operation of the steel industry from January to October released by the Ministry of Industry and Information Technology on the 17th, due to factors such as the decline in raw material and fuel prices, steel prices have fallen sharply until this year. Level at the beginning of March.

　　According to data from the China Iron and Steel Association, on November 12, the domestic steel composite price index was 136.81 points, a decrease of 13.2% from the end of September and an increase of 22.1% from the same period last year; the price of rebar was 4643 yuan per ton (RMB, the same below). At the end of September, it fell by 18.6%; the price of hot-rolled coils was RMB 5,009 per ton, down 14.9% from the end of September.

　　The price of iron ore returned to fluctuating.

According to data from the China Iron and Steel Association, on November 12, the CIF price of imported iron ore (62% grade) was US$89.18 per ton, down 24.8% from the end of September and 61.3% lower than the highest point of the year at US$230.59 per ton.

　　According to data from the General Administration of Customs, from January to October, China imported 933 million tons of iron ore, down 4.2% year-on-year, and the average price was US$175.9 per ton, up 73.6% year-on-year.

　　China's cumulative crude steel production has achieved a year-on-year decline.

According to the National Bureau of Statistics, in October, the country’s crude steel output was 71.58 million tons, down 23.3% year-on-year, and the average daily output was 2.309 million tons, down 6.1% from the previous month, which was the lowest daily output since 2018.

From January to October, the country’s cumulative crude steel output was 877 million tons, a year-on-year decrease of 0.7%, and positive results were achieved in reducing crude steel output.

　　Steel exports continued to decline month-on-month.

According to data from the General Administration of Customs of China, in October, China exported 4.497 million tons of steel, a month-on-month decrease of 8.6%; and imported 1.127 million tons of steel, a decrease of 10.3% from the previous month.

From January to October, China exported 57.52 million tons of steel products, a year-on-year increase of 29.5%; cumulative imports of steel products were 11.84 million tons, a year-on-year decrease of 30.3%.

　　According to statistics, inventories of steel companies increased slightly year-on-year, while social inventories decreased slightly year-on-year.

According to statistics from the China Iron and Steel Association, in late October, the steel inventory of key statistical enterprises was 12.84 million tons, an increase of 7.5% over the end of September and an increase of 5.7% over the same period last year.

The social inventory of five major types of steel in 20 cities was 9.69 million tons, a decrease of 9% from the end of September and a decrease of 14% from the same period last year.

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