China's iron and steel market (Jan. - Oct. 2022)

1. Steel production has declined. According to the National Bureau of Statistics data, the national crude iron and crude steel production from January to October were 726.892 million tons and 860.569 million tons, respectively, down 1.2% and 2.2% year-on-year. Check the latest market price of local graphite electrode.

2. The import and export volume of steel products decreased generally. According to the General Administration of Customs data, from January to October, China's steel exports were 56.36 million tons, down 1.8% year-on-year, among which, 5.18 million tons of steel were exported in October, up 16.1% year-on-year. From January to October, China's steel import volume was 910,000 tons, down 23% year-on-year, among which, 770,000 tons of steel were imported in October, down 31.5% year-on-year.

3. Steel prices has decreased slightly. According to China Iron and Steel Association (CISA), China's Composite Price Index at the end of October was 109.50 points, down 3.26 points, or 2.9% month-on-month.

4. Mineral imports have been declining. According to the General Administration of Customs data, from January to October, the import volume of iron ore and concentrate in China was 917.42 million tons, down 1.7% year-on-year, among which, the import volume of iron ore and concentrate in October was 94.98 million tons, up 3.7% year-on-year. For more information about the steel market, please follow our daily updates.