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Chinese Steel Weekly-20151109
According to the data released by General Administration of Customs of the PRC, steel export from China was 11.25 million tons in September 2015 increased by 32.1% year-on-year. The growth rate of steel export was 27.2% year-on-year from January to September. And the export sum decreased by 9.8% year-on-year due to steel price drop
MPI’s comments: Many overseas countries conducted countermeasures against growth of steel export from China, which was highly concerned by the international market. The growth of steel export from China was mainly driven by overseas demand representing strong competitiveness of Chinese steel products in the international market.
According to the data released by the National Development and Reform Commission, crude steel output in China was 608.94 million tons in the first three quarters of 2015 decreased by 2.1% year-on-year, while the percentage was 2.3% growth in the same time last year. The steel output was 840.24 million tons increased by 1.1% and growth rate decreased by 3.9 percentage points. The steel price also declined.
MPI’s comments: Chinese steel production has already entered a peak range represented by decline of crude steel output and drop of growth rate of steel output in the first three quarters of 2015. Drop of steel price indicated that oversupply of Chinese steel industry will not be changed, and steel companies will be confronted with severe challenge.
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