I Crude steel output dropped y-o-y

According to National Bureau of Statistics (NBS), China produced crude steel of 877.05 million tons in January-October, down 0.7% year on year. Pig iron output in the same period was 734.07 million tons, down 3.2% year on year. Among them, crude steel output and pig iron output in October were 71.58 million tons and 63.03 million tons respectively, down 23.3% or 19.4%.

II Steel prices dipped

According to China Iron and Steel Association (CISA), China Steel Composite Price Index was 149.64 points as of October end, down 8.06 points or 5.1% from the previous month.

III Steel inventories increased

As of late October, steel inventories at CISA member steelmakers were 12.84 million tons, up 890,000 tons or 7.5% from late September.

IV Iron ore import volume fell

According to data from the General Administration of Customs, China imported iron ore and its concentrates of 933.48 million tons in January-October, down 4.2% year on year. Among them, import in October totaled 91.61 million tons, down 14.1% year on year.