I Crude steel output kept rising

According to National Bureau of Statistics, in January-August, pig iron, crude steel and steel products output attained 589.40 million tons, 688.89 million tons and 844.69 million tons, up 3.4%, 3.7% and 4.8% year on year.

II Steel products export continued to decline while import rose

According to Customs, accumulative export volume of steel products in January-August, 2020 was 36.557 million tons, down 18.6% year on year and import volume of steel products totaled 12.189 million tons, up 59.6% year on year.

III Steel products price kept increasing

According to CISA (China Iron and Steel Association), China’s steel price index, in August-end, 2020, was 105.74 points, up 1.2 point from July-end and 0.99 point or 1% year on year.

IV Profit of enterprises were narrowed

In January-August, accumulative revenue of enterprises totaled 2900 billion yuan, up 5.8% year on year while profit was down 18.6% year on year to 109.64 billion yuan. Profit margin was 3.79%, down 1.13 percentage point year on year.

V Steel inventory slightly dropped

In August 21-31, market inventory of five steel products (rebar, wire rod, HRC, CRC, medium and heavy plate) attained 12.35 million tons, down 1.8% from August 11-21 and down 38.9% from the peak high in March.

VI Imported iron ore price increased

According to Customs, import volume of iron ore attained 759.915 million tons in January-August, 2020, up 11% year on year. The imported iron ore fines price (62%) averaged 119.93 dollars/t in August, up 13.4 dollars/t or 12.6% from July.