May. 23, 2012 (China Knowledge) - China, the world's largest steel producer, saw its crude steel output rise 2.6% YoY last month, slowing from a 7.1% growth in the same period of 2011, according to the latest statistics released by the National Development and Reform Commission
In the first four months, the country's crude steel output climbed 1.9% YoY to 233.99 million metric tons. The growth rate was 6.4 percentage points lower than that in the same period of last year.
The commission said that the country's output of steel products rose 6.2% YoY to 302.45 million metric tons in the first four months, slowing from a 12.6% increase in the corresponding period of last year.
China exported 16.81 million metric tons of steel products in the period, up 10.2% YoY, and imported 4.54 million metric tons of steel products, down 18.3% YoY.
The country's coke output grew 6.4% YoY to 144.55 million metric tons in the period.
In the month of April, China's steel prices experienced slight rebound, with the domestic composite steel price index rising 1.19 points from March to 121.52. The prices of 20-mm steel sheets and 1-mm cold-rolled coils were RMB 4,460 per metric ton and RMB 5,190 per metric ton, up 0.9% and down 0.1% month on month, respectively.
The steel industry realized RMB 18.33 billion in profit in the first quarter, 67.8% less than in the same period of last year. The ferrous metal mining and dressing sector booked a profit of RMB 17.03 billion, while the steel smelting and processing sector suffered a loss of RMB 490 million, compared with a net profit of RMB 34.99 billion in Q1 of 2011.