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Mysteel's national average price of 500mm UHP graphite electrodes in East China's Jiangsu province, the country's core electric-arc-furnace (EAF) steelmaking market, declined by a total of Yuan 200/tonne ($29.9/t) on month to Yuan 99,000/t including the 16% VAT as of July 13. Demand among EAF mills was severely dampened by the arrival of high temperatures and heavy rains in late June which heralded the arrival of the slack season (June-August) for steel production.
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China's national economy has stayed on a healthy and steady track, with the gross domestic product (GDP) for the first half year of 2018 at Yuan 41.9 trillion ($6.3 trillion), up 6.8% on year, according to the latest release by the National Bureau of Statistics (NBS) on July 16.
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China's pig iron production over the first half of 2018 inched up 0.5% on year to 372.8 million tonnes, according to the latest data from China's National Bureau of Statistics published on July 16. However, crude steel output over the same period jumped by 6% on year to 451.16 million tonnes, NBS noted.
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China produced 36.1 million tonnes of coke in June, 1% down on month and 4.7% lower on year, according to a post by China's National Bureau of Statistics (NBS) on July 16. Over January-June, China's total coke output declined 3.2% on year to 212 million tonnes, the statistics show.
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China's iron ore imports for the first half of 2018 reversed down 1.6% on year to 530.7 million tonnes, according to the latest statistics released by the country's General Administration of Customs on July 13, which was steeper than the 0.1% decline for the first quarter but within market expectation.
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The global price of iron ore from all origins is forecast to average the equivalent of US$59/tonne FOB Australia (62% Fe grade) this year, some 7.2% lower than the 2017 average, according to a report released by the Australian Government's Department of Industry, Innovation and Science on July 2.
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China's total imports of coking coal and manganese ore and concentrates each posted month-on-month and year-on-year increases in May, according to statistics released by the country's General Administration of Customs.
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China's imports of steel scrap in May surged by 80,000 tonnes or 67% on month to 200,000 tonnes, according to the latest data released by China's General Administration of Customs on June 23.
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China's run-of-mine (ROM) iron ore output declined 5% on year to 67.3 million tonnes for May, which was down merely 0.3% on month, according to the latest statistics from China's National Bureau of Statistics (NBS) on June 21, partly due to the idling of some mining operations in North China's Hebei province and Sichuan province in Southwest China.
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China's output of pig iron in May increased by 4% year on year to 66.89 million tonnes to reach a new historical high, according to the latest data from China's National Bureau of Statistics on June 14. The rise in pig iron output tallied with the remarkable year-on-year surge of 8.9% in the country's crude steel output last month to 81.13 million tonnes - also a new record high - but was not in step with output of coke where production decreased by 1.6% on year to 36.48 million tonnes, the NBS data show.
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China's iron ore imports increased by 11.2 million tonnes or 13.5% on month to 94.1 million tonnes in May, according to the latest release by the country's General Administration of Customs on June 8.
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China's imports of steel scrap in April plunged by 50,000 tonnes or 29.4% on month to 120,000 tonnes, according to the latest data released by China's General Administration of Customs on May 23.
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China produced 67.5 million tonnes of iron ore run-of-mine (ROM) during April, representing a slight increase of 0.9% or 583,000 tonnes on month, according to the latest data from China's National Bureau of Statistics released on May 18.
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China's power consumption by the secondary industry including heavy and light rose 6.9% on year to 1.42 trillion kWh over January-April, compared with a general 9.3% in the country's total power consumption, indicating that the sector has been growing healthily.
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China's April pig iron output fell 0.4% year on year to 63.1 million tonnes, but the decline was slower than the 1.1% decline for March or 1.2% year-on-year drop for January-April, mainly due to the resumption of blast furnaces in April, Mysteel understands from the market.
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China produced 36.72 million tonnes of coke in April, up 3.2% on month but down 3.6% on year, the latest data from the National Bureau of Statistics (NBS) showed on April 15.
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China's iron ore imports surge is losing the momentum with April's iron ore import volume down by 2.9 million tonnes or 3.3% month on month to 82.9 million tonnes, according to the latest statistics released by the country's General Administration of Customs on May 8.
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China's exports of finished steel products reached 6.48 million tonnes in April, up 14.7% or 830,000 tonnes from 5.65 million tonnes in March, according to the latest numbers from the General Administration of Customs on May 8.
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Brazil's total iron ore exports in April plunged 13.6% on month to 25.88 million tonnes, according to statistics from Brazil's Ministry of Industry, Foreign Trade and Services published on May 2.
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Member steel mills of the China Iron and Steel Association (CISA) posted a total gross profit at Yuan 56.9 billion ($9 billion) over January-March, but a few adverse factors will challenge the industry for the rest of the year, according to CISA's Q1 steel industrial performance press release issued on April 27.
