Economic growth in the first three quarters turned from negative to positive,How does steel perform?

On October 19, the Bureau of Statistics released data showing that in the first three quarters, our country’s economic growth has turned from negative to positive, the relationship between supply and demand has gradually improved, market vitality has increased, employment and people’s livelihoods have been better protected, the national economy has continued to stabilize and recovered, and the overall social situation has remained stable.

In the context of a better economy,the steel industry also performed well in the first three quarters.
In the first three quarters, my country produced 781.59 million tons of crude steel
Data from the National Bureau of Statistics show that in September 2020, my country’s average daily output of crude steel was 3.085 million tons, average daily output of pig iron was 2.526 million tons, and average daily output of steel was 3.935 million tons. From January to September, our country produced 781.59 million tons of crude steel, 66.548 million tons of pig iron, and 96.24 million tons of steel. The specific data are as follows:

In the first three quarters, our country exported 40.385 million tons of steel
According to data from the General Administration of Customs, in September, our country exported 3.828 million tons of steel, an increase of 15 million tons from August; from January to September, our country’s cumulative export of steel was 40.385 million tons, a year-on-year decrease of 19.6%.
In September, our country imported 2.885 million tons of steel, an increase of 645,000 tons from August; from January to September, our country’s cumulative steel imports were 15.073 million tons, a year-on-year increase of 72.2%.
In September, our country imported 10.8544 million tons of iron ore and its concentrate, an increase of 8.187 million tons from August. From January to September, our country’s total imported iron ore and its concentrate was 86.462 million tons, a year-on-year increase of 10.8%.

The current steel price is still at a relatively high level during the year
In early September, steel prices in the national circulation market maintained an upward trend, all higher than the prices in late August; but in mid-September, prices began to fall, with the exception of seamless steel pipes, the prices of other steel products were all lower than in early September. In late September, steel prices in the national circulation market, except for seamless steel pipes, continued the downward trend in mid-September, and the rate of decline has also expanded. The current steel price is still at a relatively high level during the year.

In the first 8 months, the profit of key steel companies fell year-on-year
According to data from the China Iron and Steel Association at the end of September, from January to August, the China Iron and Steel Association’s key statistics steel enterprises achieved sales revenue of 2.9 trillion yuan, an increase of 5.8% year-on-year; realized profits of 109.64 billion yuan, a year-on-year decrease of 18.6%, a decrease of 1~ It narrowed by 10 percentage points in July; the sales profit rate was 3.79%, 0.27 percentage points higher than that from January to July, and 1.13 percentage points lower than the same period last year.