Jun. 21, 2012 (China Knowledge) - China, the world's largest steel producer, saw its crude steel output rise 2.5% YoY last month, slowing from a 7.8% growth in the same period of 2011, according to the latest statistics released by the National Development and Reform Commission
In the first five months, the country's crude steel output climbed 2.2% YoY to 296.26 million metric tons. The growth rate was 6.3 percentage points lower than that in the same period of last year.
The commission said that the country's output of steel products rose 6.3% YoY to 384.01 million metric tons in the first five months, slowing from a 12.3% increase in the corresponding period of last year.
China exported 22.04 million metric tons of steel products in the period, up 10.1% YoY, and imported 5.85 million metric tons of steel products, down 14.4% YoY.
The country's coke output grew 6.4% YoY to 183.28 million metric tons in the period.
In the month of May, China's steel prices experienced drops, with the domestic composite steel price index falling 2.76 points from April to 118.76. The prices of 20-mm steel sheets and 1-mm cold-rolled coils were RMB 4,298 per metric ton and RMB 5,105 per metric ton, down 3.6% and down 1.6% month on month, or down 15.1% and 9.5% YoY, respectively.
The steel industry realized RMB 39.5 billion in profit in the first four months, 49.5% less than in the same period of last year. The ferrous metal mining and dressing sector booked a profit of RMB 21.2 billion, down 79% YoY, and the steel smelting and processing sector recorded profit of RMB 15.1 billion, 68.8% less than in the corresponding period of 2011.