According to the website of the ministry of industry and information technology on October 23, in the first three quarters of this year, the steel industry has maintained a relatively stable development trend. However, there are still some problems such as the rapid growth of output and the sharp decline of profit, which need to be attached great importance.

1. Steel production increased year on year. In the first three quarters, China's pig iron, crude steel and steel output was 612 million tons, 748 million tons and 909 million tons respectively, up 6.3%, 8.4% and 10.6% year on year, respectively.

Second, the price of steel after the first rise. The focus of domestic steel prices in 2019 has moved lower than that in 2018. The composite price index of steel in the first three quarters was 108.9 points on average, down 6.6% year on year. Among them, the average price indexes of long material and board are 115.0 and 105.0 respectively, down 5.4% and 8.9% respectively compared with the same period last year. The decline of long material is smaller than that of board. In the first quarter, the steel price rose slightly. By the end of march, the steel composite price index was 109.69 points, an increase of 2.4% compared with the beginning of the year. Steel prices in the second quarter fell, the third quarter of steel prices fell by shock, by the end of September, China's steel composite price index is 106.1 points, down 3.1% from the end of June.

Iron ore prices have fallen. As of October 21, China's iron ore price index was at 317.27 points, down 2.02 points month-on-month and down 25.6% from the highest point this year. Among them, the imported iron ore price index is 314.33 points, down 2.37 points month-on-month and down 29% from the highest point this year. On October 21, the cif price of 62% grade dry base ore imported directly was $84.90 / ton, down 0.75% from the previous month and down 29% from the peak this year.

4. Industry profits have declined sharply. From January to August, China's iron and steel industry operating revenue was 5.58 trillion yuan, although the year-on-year growth was 8.9%, but the profit realized was 225.99 billion yuan, down 24.7% year on year. The industry profit margin was 4.05%, down 1.8 percentage points year on year. According to the China iron and steel association, 90 key large and medium-sized enterprises realized profits of 136.9 billion yuan from January to August, down 29.0 percent year-on-year.

Both imports and exports fell. Steel exports continued to fall in the third quarter, despite a 2.3% year-on-year decline in the first half of the year. From January to September, China exported 50.305 million tons of steel, down 5.0% year on year. Exports totaled 285.19 billion yuan, down 4.4% year on year. In the same period, China imported 8.751million tons of steel, down 12.2% year on year; Imports totaled 71.02 billion yuan, a year-on-year decrease of 12.7 percent.

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