Overall growth! NDRC announced the operating performance of the steel industry in 2020
Feb 03,2021
1. Steady Growth in Steel Production. According to the National Bureau of Statistics, from January to December 2020, the national output of pig iron and crude steel reached 88.752 million tons and 105.3 million tons respectively, showing a year-on-year increase of 4.3% and 5.2% respectively.
2. Decline in Steel Exports, Significant Increase in Imports. According to the General Administration of Customs, from January to December 2020, the total export volume of steel reached 53.671 million tons, showing a year-on-year decrease of 16.5%; the total import volume reached 20.233 million tons, showing a year-on-year increase of 64.4%.
3. Slight Decrease in Average Steel Prices. According to the China Iron and Steel Association, the average value of the China Steel Price Index from January to December 2020 was 105.57 points, showing a year-on-year decrease of 2.2%. After falling to its lowest point of 96.62 points in late April 2020, it gradually recovered, rapidly rising from November, reaching its highest point of 129.14 points in December, an increase of 32.52 points (33.7%) compared to the lowest point in 2020.
4. Growth in Corporate Profits. From January to December 2020, the key statistical steel enterprises of the China Iron and Steel Association achieved sales revenue of 4.7 trillion yuan, a year-on-year increase of 10.9%; and profits of 207.4 billion yuan, a year-on-year increase of 6.6%.
5. Slight Increase in Steel Inventories. According to the China Iron and Steel Association, the social inventory of five major steel products (rebar, wire rod, hot-rolled coil, cold-rolled coil, and medium and thick plates) in major cities across the country reached a peak of 20.21 million tons in early March 2020, and then fluctuated downwards, falling to 7.3 million tons at the end of December, an increase of 7% compared to the beginning of the year, and a decrease of 63.9% compared to the peak.
6. Continued Growth in Iron Ore Imports, Significant Increase in Import Prices. According to the General Administration of Customs, from January to December 2020, the total import volume of iron ore and its concentrates reached 117.01 million tons, a year-on-year increase of 9.5%. According to the China Iron and Steel Association, as of the end of December 2020, the price of imported iron ore (62% grade) was US$159.54 per ton, an increase of US$69.02 per ton (76.2%) compared to the same period in 2019.
