China steel output, prices rise in May
China’s steel output and prices rose in May, according to the country’s top economic planner.
Crude steel output jumped 10 percent year on year to 89.09 million tonnes, while coke production grew 5.7 percent to 40.16 million tonnes, the National Development and Reform Commission said in an online statement.
Steel exports fell 590,000 tonnes to 5.74 million tonnes last month, while imports dropped to 980,000 tonnes.
Imports of iron ore added 2.98 million tonnes to 83.75 million tonnes in May.
During the first five months, crude steel production gained 10.2 percent year on year to 404.88 million tonnes. Coke output increased 5.8 percent year on year to 192.49 million tonnes.
Steel prices posted month-on-month increases in May, partly due to rising iron ore prices. Brazil’s Vale dam accidents and the suspension of the transportation of iron ore in Australia because of cyclones have pushed up prices of the steel-making material.
The domestic steel price composite index averaged 112.16 points last month, compared with 112.04 points in April.