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Worldsteel reported crude steel production in China at 71.0 million metric tonnes in February, 9.2% higher than in February 2018. Chinese output over the first two months of 2019 was also 9.2% higher than in the same period last year.
Chinese net finished steel exports (exports minus imports) in February were approximately 3.4 million tonnes, 10.1% lower than in February 2018. Net exports in the first two months of 2019 were 17.2% higher than in the first two months of 2018.
China monthly crude steel production 2006 to 2019
thousand metric tonnes
Photo of Shanghai Lujiazui Finance and Trade Zone by Carlos Adampol Galindo from DF, México [CC BY-SA 2.0 (https://creativecommons.org/licenses/by-sa/2.0)]
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Worldsteel published February’s world crude steel production yesterday. World steel output was 137.3 million metric tonnes, 4.1% higher than in February 2018.
China accounted for 52% of world output in February with production of 71.0 million tonnes, 9.2% higher than in February 2018. Asian output outside of China rose 6.8%, with significantly higher production in Vietnam (+52.7%), Taiwan (+22.5%) and India (+2.3%) offsetting lower production in Japan (-6.6%) and Pakistan (-41.5%). European Union crude production fell 5.0% compared to last February, mainly due to a 9.4% drop in Germany. In North America, US output was up 4.6% while Canadian and Mexican production fell 6.7% and 12.6% respectively. In addition, Turkish crude steel production fell 12.5% on last February and Russian output was down 4.4%, while production in Iran rose 21.7%.
Photo by “myself [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)]” from Wikimedia Commons at https://commons.wikimedia.org/wiki/File:Foolad_Mobarakeh50.jpg
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Based on reported import licenses, US long steel products imports rose 60% from 206,000 short tons in December to 329,000 tons in January. Compared to January import licenses, February licenses fell 47% to 175,000 tons. The drop between January and February was mainly due to lower rebar import licenses from Italy, Bulgaria and Vietnam. Wire rod licenses also fell significantly in February from Germany and parallel flange sections import licenses fell from South Korea and Luxembourg.
While final January import data will be published at the end of March and February import data mid-April, based on January and February licenses, long products imports so far this year are 5% lower than imports in the first two months of 2018.
SIMA US long products imports licenses
January 2013 to February 2019
short tons
Production process of rebar at NLMK Kaluga
Photo from Worldsteel Association Image Library by worldsteel / Robert Kolykhalov
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Based on reported import licenses, US flat steel products imports rose 10% from 656,000 short tons in December to 725,000 tons in January. Compared to January import licenses, February licenses fell 19% to 585,000 tons, mainly due to lower hot rolled licenses from Canada and Mexico, as well as lower hot dip galvanized licenses from a number of countries including South Africa, Brazil, the United Arab Emirates and Canada.
Based on January and February licenses, flat products imports so far this year are 11% lower than imports in the first two months of 2018, led by an 18% drop in hot rolled imports and a 20% drop in cold rolled imports.
SIMA US flat products import licenses
January 2013 to February 2019
short tons
Photo of Steel coils in storage in the hot-dip coating line from Worldsteel Association Image Library by worldsteel / Gregor Schläger, Image ID: 179
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Worldsteel reported crude steel production in China at 75.0 million metric tonnes in January, 4.3% higher than in January 2018. In addition, steel industry sources report Chinese net finished steel exports in January at approximately 5.1 million tonnes, 47% higher than in January 2018.
China monthly crude steel production 2006 to 2019
thousand metric tonnes
Photo of Shanghai skyline by Ermell [CC0] from Wikimedia
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