In October, China’s total production of hot-rolled steel – HRC and cold-rolled steel – CRC in China reached 17.145 million mt and 3.59 million mt , increasing by 14.1% and 9.4% year on year, while decreasing by 3.52% and 2.31 million mt, % on a consecutive monthly basis.

HRC prices in the Chinese domestic market fell on October 1, then rose later, with the highest level in October at 4,005 yuan/ton ($558/mt) in the period from October 30 to 31, and the lowest level of the month recorded on October 12. At a price of 3,895 yuan/ton ($543/mt).

HRC prices in the Chinese domestic market continued their upward trend in November due to China’s issuance of an additional CNY 1 trillion of 2023 special bonds in the October-December period and due to continued increases in iron ore import prices.

From January to October this year, China’s production of hot-rolled steel flat – HRC 172.696 million mt, up 13.2% year on year, according to China’s National Bureau of Statistics (NBS).

In the same period, China’s total production of cold-rolled steel flat – CRC 32.275 million mt, up 4.1% year on year.