According to CISA, steel production at the factories owned by the member companies of the Iron & Steel Association averaged 1.876 million tonnes per day between April 1-10, which is 5.04% higher than 10 days before.
This is against the 0.07% decline for March 21-31 compared to 10 days earlier. The daily average for the first 10 days of April was also 1.56% higher than in the same period last year.
As of April 10, stocks of finished rolled steel at factories of the countries were up 7.46% from 14.38 million tons, and stocks also increased by 0.68% year on year. According to CISA estimates, total crude steel production in China at the beginning of April was 2.41 million tonnes per day, up 4.25% from the end of March and 4.34% more than a year ago.
In the short term, steel prices will start to rise as end-consumer demand continues to recover and finished steel inventories decline. According to Chinese information provider Mysteel, cumulative inventories of rebar, wire rod and plate in major cities in China fell 20.1% m /m to 15.02 million tonnes compared to April 20.
S&P Global Platts estimates that prices for 18-25mm HRB400 rebar in the Beijing dealer market rose 2.1% or 80 yuan ($ 13 per tonne) from the week before to $ 3,825-3,835 per tonne, up from from April 20.
China Iron and Steel Association marks significant growth since April 1
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Azovpromstal® 25 April 2018 г. 09:39 |
