Arab Steel Summit 2025
Arab Steel Summit 2025
Arab Steel Summit 2025
Sun Rise
Arab Steel Summit 2025
Ezz_Web_Banner_Side_280x200
qatar_steel2
SMS group
Steelco
Arab Steel Summit 2025
Sun Rise
Kallanish
steelradar

China’s Steel Output and Crude Oil Refining Continue to Slump

Chinese steel production and crude oil refining continued to slump in September, while output of other key commodities rose.

Steel mills churned out 77.07 million tons last month, the lowest total this year, leaving production in the first nine months down 3.6%, according to the statistics bureau on Friday.

Oil refining fell to a three-month low of 58.73 million tons as more units were shuttered for seasonal maintenance, with year-to-date production falling 1.6%.

In terms of profitability, the steel and crude oil refining industries have been the worst performers among China’s industrial sectors this year, driven by the property crisis and decarbonization measures. Steel mills are being forced to cut output amid a deepening recession in the sector, while oil refiners face a long-term decline in gasoline consumption as China’s car fleet shifts to electric vehicles, while demand for diesel is falling due to a slowdown in construction activity.

China’s coal output points to another bumper year ahead, with September’s total output hitting its second-highest monthly level on record.

This comes after data earlier in the week showed imports soaring to a new record, as China takes no chances in ensuring factories and households have enough fuel to survive the cold winter months.

The country’s natural gas output also rose from a year ago, with the increase in supplies of the fuel used to generate electricity coming despite falling demand from the industrial sector and a big increase in renewables’ contribution to electricity generation.

Aluminum production has surged, with abundant electricity supplies likely to drive another surge in output through the rest of the year

Twitter
Facebook

Related News

Ezz-780-1
Sun Rise
kuwit-steel3
mih-1

Latest News