China's robust steel production and price trends in the first half of 2023

In July, China's pig iron, crude steel, and finished products outputs surged yoy, but showed slight monthly fluctuations by up 0.81%, down 0.34% and 2.96% respectively. China's total outputs in January-July of this year also saw increases yoy. Average steel prices remained relatively stable in July, with signs of a rising trend towards the end of the month, influenced by futures prices and raw material support.

During the January-July timeframe of this year, China produced 528.92 million metric tons of pig iron, 626.51 million metric tons of crude steel, and 789 million metric tons of finished products. These figures represented a growth of 3.5%, 2.5%, and 5.4% correspondingly, compared to the previous year.