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China is stepping up the production and export of steel products

2 December 2014

According to the information data provided by «World Steel Association» with respect to the production of steel in October 2014, in this period, 65 countries, providing statistical results of the organization, developed 136.7 million. Tons of steel. According to the press release the organization, this level corresponds to the results of last year's same period, although when compared directly to the October statistics on the same WSA for the current and the last year significantly increased production by 1.9%. The emerging difference in numbers is due to correction of steel output in 2013 in China. According to statistics obtained by WSA volumes of Chinese products accounted for 65.1 million. Tons in October last year, less than in October this year by 3.7%. However, after the review conducted last year, it was determined that the issue became somewhat higher than these figures, as reported by the National Association of Chinese metallurgical CISA. As a result, WSA patches indicates a decrease in the volume of crude steel by 0.3% in October this year compared to last year results, but volumes in the period from January to October inclusive exceed the same period last year to 2.1% this year, amounting to 685.3 million. t.

Given last year's growth in China's metallurgical sector by 8.7% as a result of the WSA — though, probably, this figure is slightly higher in fact — it is possible to point to a certain stability. In this case there is a problem in the form of lower demand for steel in January-October of the current year by 1.4% compared to the same period last year, with the rate of decline gradually increase as in January-August decline in demand was only 0.3%. There is an imbalance between supply and consumption is forcing China to increase exports — for the ten-month period the number of metal exported from the country amounted to 73.9 million tons, which is 42.2% higher than last year… The result of the expansion of China's export enterprises can be regarded as a sharp decline in the cost of steel products on the world market. Last month, the average steel production per day declined in China, amounting to 2.177 million. Tons, while the results for September amounted to 2.25 million. Tons. However, this decline is hardly a new trend — rather, it was under the influence held in Beijing the APEC summit. As a result of the events of the plants that are from the capital at a distance of 200 km was forced to suspend its work in order to partially clean the environment. Already from the middle of November the work of businesses resumed.

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