China's steel production followed a mixed course in October. According to data released by the National Bureau of Statistics (NBS), hot rolled coil (HRC) production was 17 million tons, down 1.2% from the same month last year. Cold rolled coil (CRC) production also fell by 0.7% y-o-y to around 4.2 million tons.
However, in the first ten months of the year, China's steel production generally increased. HRC production increased by 2% compared to the previous year, reaching 178 million tons, while CRC production increased by 5.5% to 39.5 million tons.
In October, rebar production increased by 15.7% compared to the previous month, reaching 17.7 million tons. However, it decreased by 2% compared to the same month last year. Wire rod production increased by 9.7% annually, reaching approximately 12.1 million tons, while welded pipe production decreased by 15% to 4.8 million tons.
In the first ten months of 2024, China's rebar production decreased by 14% compared to the previous year, reaching 163 million tons. Wire rod and welded pipe production also decreased by 3% and 10.6%, respectively.
Despite a 4% annual decrease, China's iron ore production in October increased by 4.4% compared to September, reaching 86.45 million tons. Total iron ore production in the first ten months of the year increased by 2.8% compared to the same period last year, reaching 872 million tons.
Iron ore imports decreased by 0.2% in October compared to September, but increased by 4.5% compared to October 2023, reaching 104 million tons. In the first ten months of the year, total imports increased by 5% annually and exceeded the 1 billion ton mark.
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