The recovery in late December was mainly due to the fact that some steel companies in eastern China restored production capacity after completing scheduled maintenance, said Mysteel Global.
The increase in daily production was in line with results from another Mysteel study, which showed that capacity utilization among 247 blast furnaces surveyed increased to 75.79% in December 24-30, up another 1.46 percentage points over the week. Production of 71 EAFs also rose 0.14 percentage points over the week to 44.74% over the same period.
However, at the end of December, domestic steel demand eased further as end consumers began to gradually reduce consumption as the Chinese New Year approached from January 31 to February 6.
From 21 to 31 December, the daily trading volume of construction steel, including rebar, wire rod and coil, among 237 Chinese Mysteel traders follows an average of 144,830 dpi, which is 30,876 dpi, or 17.6% less than for the previous ten days.
China's Daily Steel Production Increases 1.5% Late December
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Azovpromstal® 6 January 2022 г. 12:49 |
