The Production Situation Of China's Steel Industry in 2023

 

 

According to data from the National Bureau of Statistics, China produced 60.8709 million tons of pig iron in December 2023, a year-on-year decrease of 11.8% and a month-on-month decrease of 6.1%; from January to December, the cumulative production of pig iron was 871.013 million tons, a year-on-year increase of 0.7%.

In December, China produced 67.4438 million tons of crude steel, down 14.9% year-on-year and 11.4% month-on-month. From January to December, China produced a total of 1,019.0813 million tons of crude steel, which was the same as the same period last year.

In December, China produced 108.4947 million tons of steel, a year-on-year increase of 1.5% and a month-on-month decrease of 1.8%; from January to December, China produced a total of 1,362.6817 million tons of steel, a year-on-year increase of 5.2%.

 

 

According to data from the National Bureau of Statistics, the country produced 86.0332 million tons of raw iron ore in December 2023, a year-on-year increase of 0.4% and a month-on-month increase of 0.5%; from January to December, the cumulative production of iron ore raw ore was 990.5554 million tons, a year-on-year increase of 7.1%.

 

 

According to data from the General Administration of Customs, China imported 100.861 million tons of iron ore in December 2023, a year-on-year increase of 11.0% and a month-on-month decrease of 1.8%; the monthly average price of imported iron ore was 123.3 US dollars/ton, a year-on-year increase of 33.9%. From January to December, a total of 1,179.06 million tons of iron ore were imported, a year-on-year increase of 6.6%; the cumulative average import price was US$113.62/ton, a year-on-year decrease of 1.6%.

 

 

From January to December, the national symbiotic pig iron production reached 871.013 million tons, a year-on-year increase of 0.7%. Domestic raw iron ore output was 990.5554 million tons, a year-on-year increase of 7.1%; iron ore imports were 1,179.06 million tons, a year-on-year increase of 6.6%, and the total iron ore supply increased year-on-year. At the end of December, the port inventory of imported iron ore was 119.9173 million tons, a month-on-month increase of 7.184 million tons, an increase of 6.3%, and a year-on-year decrease of 11.932 million tons, a decrease of 9.1%. Judging from the above data, the current growth in iron ore supply is greater than the growth in demand, and the tight balance between market supply and demand has been significantly alleviated.

 

 

From January to December, the cumulative fixed asset investment in the national mining industry increased by 2.1%, of which the fixed asset investment in the ferrous metal mining and dressing industry recorded a negative growth of 6.8%, which was 8.9 percentage points lower than the national mining industry; the month-on-month decrease expanded by 3 percentage points.

The cumulative fixed asset investment in the national private mining industry increased by 5.1%, of which private investment in the ferrous metal mining industry recorded a negative growth of 25.5%. The growth rate was much lower than the 30.6 percentage points of private investment in the national mining industry, and the decline narrowed by 0.1 percentage points from November.

The growth rate of fixed asset investment in the ferrous metal mining and dressing industry is significantly lower than that of the national mining industry. Private investment in the ferrous metal mining industry is still experiencing relatively large negative growth, and the overall investment willingness is still not strong.

 

 

According to data from the National Bureau of Statistics, from January to December, the operating income of the ferrous metal mining and dressing industry was 472.35 billion yuan, a year-on-year increase of 2.8%; the total profit was 55.450 billion yuan, a year-on-year increase of 6.7%.

 

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