【Steel Market】China's Steel Industry Maintains Overall Stability from January to August

Data released by the China Iron and Steel Industry Association shows that from January to August, China's steel industry has maintained a stable growth trend, steadily increasing its level of high-end, intelligent, and environmentally friendly production. To learn the production & sales data of graphite electrodes for producing electric furnace steel.

The data reveals that in the first eight months of this year, China's crude steel, pig iron, and steel production increased by 2.6%, 3.7%, and 6.3%, respectively, compared to the same period last year, maintaining stable growth. Steel exports reached 587.85 million tons, marking a 28.4% year-on-year increase. In 2021, with the continued adjustment of China's industrial structure, the demand structure for steel has changed, driving an accelerated transformation in the steel industry.

Focusing on new demands and developing new products has been a priority. Chinese steel companies have been actively promoting research and development innovations, steadily advancing towards higher-end, more intelligent, and greener production.

In the first half of this year, Baosteel introduced seven products, including ultra-high-strength steel plates, which were globally launched. These products are mainly used in automotive reinforcement parts, collision safety components, and more. Recently, the world's largest heavy-duty vehicle wheel rolled off the production line at Maanshan Iron and Steel (Magang). The entire wheel manufacturing process is now environmentally friendly, reducing carbon emissions by over 20%.

Moving forward, with the implementation of the "Steel Industry Stabilization and Growth Plan" announced by the Chinese government, steel demand is expected to rebound elastically from September to December, and supply-demand imbalances are anticipated to improve further. The steel industry's structure will continue to optimize.  Follow us to keep track of the production and sales situation in the steel industry.