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China sees slowdown in crude steel output in Jan-Feb

Mar. 22, 2012 (China Knowledge) - China, the world's largest steel producer, saw its crude steel output rise 2.2% year on year to 112.62 million metric tons in the first two months of this year, according to the latest statistics released by the National Development and Reform Commission.
The growth rate was 10.4 percentage points lower than that in the same period of last year.
The commission said that the country's output of steel products rose 4.6% year on year to 139.29 million metric tons in the first two months, slowing from a 14.5% increase in the corresponding period of last year.

China exported 7.12 million metric tons of steel products in the two-month period, up 27.4% year on year, and imported 2.14 million metric tons of steel products, down 19.4% year on year.
In the month of February, China's steel prices were still in the downward trend, with the domestic composite steel price index falling 1.91 points from December or 16.59 points from a year earlier to 119.04.

The prices of 20-mm steel sheets and 1-mm cold-rolled coils were RMB 4,296 per metric ton and RMB 5,187 per metric ton, down 14.6% and 9.1% year on year, respectively.

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