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Vice Chairman of the China Iron and Steel Association (CISA) Xia Nong: Overall, both crude steel output and total consumption have shown a month-by-month downward trend, and the supply-demand situation has not undergone any more significant changes.

K-LinePoet
At the 2026 “My Steel” mid-year conference held today, along with the high-quality development forum for coordinated innovation across the steel industry chain, Xia Nong, vice chairman of the China Iron and Steel Association, said that the industry-wide consensus in 2026 on self-discipline for controlling production and reducing inventories has been further consolidated. In the first half of the year, the country’s cumulative crude steel production totaled 500 million tons, down 3% year over year. Overall, both crude steel output and total consumption have generally shown a month-by-month decline. On a month-on-month basis, the decline in apparent crude steel consumption and the decline in output are basically comparable. The supply-demand situation has not undergone more significant changes, but the rate of decline has widened slightly. According to statistics from CISA, in May the total profits of steel association member enterprises exceeded RMB 10 billion, increasing by RMB 2.5 billion month over month, with a sales profit margin of 2.63%, which is at a high level in recent years. From January to May, the industry’s overall efficiency improved year over year, mainly because steel prices rose slightly and manufacturing costs fell year over year. (Mysteel)
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