Chinese steel industry continues to face many pressures
Date:2015-05-08 Views:645Time(s) Label:Chinese steel industry continues to face many pressures
According to a new report issued by the China Iron and Steel Association (CISA) on May 6, in the first quarter of the current year China produced 177 million mt of pig iron, down 2.3 percent, while it imported 227.06 million mt of iron ore, up 2.4 percent, both year on year. As the end of April, inventories of imported iron ore at ports in China amounted to 95.07 million mt, down 5.05 percent year on year.
Meanwhile, the composite steel price index (CSPI) for the Chinese domestic market was at 73.19 points at the end of April, down 2.24 points or 2.97 percent month on month.
The CISA foresees that China's steel industry will continue to face many pressures due to slower economic growth, slack demand for finished steel and slow growth of apparent crude steel consumption, against the backdrop of increased environmental protection measures, which will limit the rebound of iron ore prices in the coming period.