B[China Iron and Steel Association: In mid-September, the steel inventory of key steel companies increased by 560,000 tons from the previous month] September 24th, according to the China Iron and Steel Industry Association, in mid-September 2026, the steel inventory of key steel companies increased by 560,000 tons from the previous month. 60,000 tons, an increase of 3.4%; an increase of 2.94 million tons, an increase of 20.8% over the beginning of the year; a decrease of 1.25 million tons, a decrease of 6.8%, compared with the same period last month; an increase of 1.79 million tons, an increase of 11.7%, compared with the same period last year, and an increase of 1.43 million tons, an increase of 9.1% over the same period last year. B[China Iron and Steel Association: According to key statistics in mid-September, the average daily crude steel output of steel companies was 1.922 million tons. Decreased 0.1% month-on-month] September 24th, according to the China Iron and Steel Industry Association, in mid-September 2026, key steel companies produced a total of 19.22 million tons of crude steel, with an average daily output of 1.922 million tons. A month-on-month decrease of 0.1%; pig iron was 17.7 million tons, with an average daily output of 1.770 million tons, a month-on-month decrease of 1.4%; steel was 18.55 million tons, an average daily output of 1.855 million tons, a month-on-month increase of 3.4%. According to this estimate, the country's daily crude steel production this ten days is 2.41 million tons, a month-on-month increase of 0.1%, the daily production of iron is 2.15 million tons, a month-on-month decrease of 1.4%, and the daily steel production is 3.74 million tons, a month-on-month increase of 1.7%. B[China Iron and Steel Association advocates that the steel industry comprehensively carry out self-discipline to control production and reduce inventories] On September 15, the China Iron and Steel Industry Association issued a proposal for the steel industry to comprehensively carry out self-discipline to control production and reduce inventories: At present, China's steel industry has a solid foundation for development, and is at the advanced level of the domestic industrial field and the world's steel industry in terms of product quality, equipment level, manufacturing capacity, environmental governance, green and low carbon, process technology, and asset quality. However, from the perspective of development stage, China's steel industry has gradually entered the "reduction and optimization" stage from the "incremental development" stage; especially since 2026, the industry operation has shown the characteristics of "strong supply, weak demand, low price, weak profitability". Domestic steel demand continues to weaken, social inventory and steel company inventory have been at relatively high levels in recent years, resulting in steel prices fluctuating downwards, profits of the main steel industry falling sharply, and corporate production and operations facing greater pressure. The problem lies on the demand side, and the fundamental way out of the dilemma lies on the steel supply side.
Here, we propose: First, strictly implement output control. Output regulation is the most effective measure to deal with the current dilemma of the steel industry and an important measure to promote high-quality development of the steel industry. To this end, the entire industry must effectively improve its political position, strengthen its awareness of the overall situation, start from itself, resolutely implement production control requirements, condemn overproduction, and ensure that the annual goals are achieved. The second is to adhere to self-discipline to control production and reduce inventory. Steel companies must take the initiative, deeply implement the "three certains and three don'ts" business principles, insist on giving priority to efficiency, and organize production according to market demand; insist on self-discipline to control production and reduce inventories, give full play to the role of steel companies as market players, reduce high inventories as soon as possible, and jointly promote the dynamic balance of supply and demand. The third is to give full play to the role of the industry price supervisory team. On the one hand, steel companies must resolutely resist competing for market share at prices below cost and consciously regulate market behavior;
On the other hand, the supervisory role of industry price supervisors should be given full play, leading enterprises should play a leading and exemplary role, and small and medium-sized enterprises should coordinate and link up to jointly maintain market stability and promote the steel industry to achieve a good start in the "15th Five-Year Plan". B[China Iron and Steel Association: The country’s daily crude steel production in late August was 2.39 million tons Decreased 4.0% month-on-month] September 7th, data from the China Iron and Steel Association showed that in late August 2026, key statistical steel companies produced a total of 20.74 million tons of crude steel, with an average daily output of 1.885 million tons, and the daily output dropped month-on-month. fell by 4.0%; pig iron was 19.41 million tons, with an average daily output of 1.765 million tons, and daily output decreased by 3.0% month-on-month; steel was 22.09 million tons, with an average daily output of 2.008 million tons, and daily output increased by 4.8% month-on-month. According to this estimate, the country's daily crude steel production this ten days is 2.39 million tons, a month-on-month decrease of 4.0%, the daily production of iron is 2.14 million tons, a month-on-month decrease of 3.0%, and the daily steel production is 3.83 million tons, a month-on-month increase of 2.0%. B[Some steel mills in Hebei Province have received the fifth round of coke increase. A total of 7 coal mines in Changzhi Qinyuan have resumed production] According to the latest research, a new coal mine in Qinyuan County, Changzhi City resumed production on September 5, with an approved production capacity of 1.2 million tons. The coal type involved is low-sulfur lean coking coal. A total of 7 coal mines in the county have resumed production, with a total production capacity of 9.3 million tons. Today, coke companies in many places started the fifth round of price increases, with increases of 100-110 yuan/ton, and some steel mills have accepted it. The losses of coking enterprises have gradually narrowed; molten iron has remained at a mid-to-high level, resulting in rigid consumption, but steel mills' profits from finished products are weak, and they are obviously resistant to high-priced coking coal, and most of them focus on replenishing stocks for rigid needs. Overall, domestic coking coal prices are supported by low mine-side inventories in the short term, but there is insufficient upward drive. The market is expected to fluctuate at high levels. (Mysteel) B[China Iron and Steel Association: In late August, key steel companies produced 1.885 million tons of crude steel per day. Decreased 4% month-on-month] September 7th, the latest data from the China Iron and Steel Industry Association showed that in late August 2026, key statistical steel companies produced a total of 20.74 million tons of crude steel, with an average daily output of 1.885 million tons. A month-on-month decrease of 4.0%; pig iron was 19.41 million tons, with an average daily output of 1.765 million tons, a month-on-month decrease of 3.0%; steel was 22.09 million tons, an average daily output of 2.008 million tons, a month-on-month increase of 4.8%. According to this estimate, the country's daily crude steel production this ten days is 2.39 million tons, a month-on-month decrease of 4.0%, the daily production of iron is 2.14 million tons, a month-on-month decrease of 3.0%, and the daily steel production is 3.83 million tons, a month-on-month increase of 2.0%. B[Agency: Hot metal production has rebounded slightly this week, and the current rigid demand for raw materials has not yet significantly loosened.] September 4th, from the demand side, the fourth round of coke price increases has been fully implemented. However, affected by the rapid rise in coking coal prices, the cost of coal for coking companies is still high. Although the loss has narrowed marginally, the overall profit recovery is still very limited. However, even when profits are extremely compressed, most coking companies still choose to passively replenish their inventories to maintain production operations. This passive behavior of "the more you lose, the more you make up for it" itself reflects that the current rigid demand for raw materials has not yet significantly relaxed. In terms of steel mills, hot metal production has rebounded slightly this week, and the apparent consumption of steel and the pace of inventory depletion have recently shown signs of marginal improvement. Although it is not enough to confirm that peak season demand has officially started, the market may have begun to trade peak season expectations in advance. If steel consumption continues to pick up and inventories continue to be reduced, the pressure on steel mills to reduce production is expected to be alleviated, and their ability to withstand rising raw material prices will also be enhanced. (My Steel Net) B[National Carbon Market Quota Allocation Related Plan Issued] On September 3, the Ministry of Ecology and Environment recently issued the "National Carbon Emissions Trading Market Total Quotas and Allocation Plan for the Power Generation Industry in 2025 and 2026 and the Steel, Cement, and Aluminum Smelting Industry in 2026" to deploy the allocation scope, calculation method, issuance and settlement of quotas for relevant industries. The plan proposes to scientifically formulate the total quota and allocation plan based on the national greenhouse gas emission control goals and carbon peak carbon neutral implementation path, taking into account factors such as the macroeconomic situation, historical emissions, market adjustment needs, and carbon emission data management foundations, and gradually coordinate with production capacity replacement and output regulation policies to strengthen carbon emission control requirements for illegal and backward production capacity and self-owned power plants, and promote orderly and safe carbon reduction in the industry. (Xinhua News Agency)
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