Although crude steel production in China recovered in August after falling for two consecutive months, by mid-August, steel inventories in China's main trading centers were still at a low level.
Low steel production and inventory levels meant that Chinese steel producers and distributors were still unsure about the market. Due to extremely hot weather and power shortages along the Yangtze River, demand for steel in China from the construction and manufacturing industries was still low.
From Aug. 1 to Aug. 10, China's average daily production of crude steel increased by 3.8% compared to the average daily production in July, but still down 10% from June, according to data from the China Iron and Steel Industry Association (CISA).
According to market participants, the situation with low demand for steel, low output and low stocks will continue in the coming months.
China's steel production could remain low for months
|
Azovpromstal® 26 August 2022 г. 09:59 |
