CISA: daily steel production fell in October

Daily crude steel production among China Metallurgical and Steel Association (CISA) member plants declined further in the first half of October, falling by 1.1% or 23,700 tons per day in 10 days to an average of 2.11 million tons in day, according to the association's new report on 13 October.

The drop in daily crude steel production by CISA members in early October was mainly due to more domestic electric arc furnace (EAF) manufacturers halting production in order to carry out maintenance at their steel mills given the ongoing losses they were incurring. , — shared sources in the market.
Based on the performance of its member plants, CISA estimated the country's daily steel production at 2.82 Mt/d in early October, which means a 0.8% decline from September 21 to 30.

By October 10, stocks of finished steel at these plants increased by 2.7%, or 434,000 tons, compared to September 30, to 16.3 million tons, according to CISA. And the total was also 27.1% higher than the same period last year, or 44.4% more than at the start of 2022.
The new CISA data matches Mysteel's survey of 247 Chinese blast furnace manufacturers and 85 electric arc furnace manufacturers that the company regularly monitors. The results showed that their daily crude steel production decreased by 0.7%, or 20,000 t/d, from the end of September to an average of 2.89 million t/d in the first year. 10 days of October, reportedly.

In early October, steel prices in China rose slightly: for example, the national price of HRB400E rebar 20 mm rose by 31 yuan per ton (4.3 US dollars per ton) from September 30 to 4,201 yuan per ton, including 13% VAT as of September 30th. October 10, according to Mysteel.

China's spot trading volume of construction steel, including rebar, wire rod and coiled bars, among 237 trading houses nationwide, according to Mysteel research, averaged 169,346 t/d from October 8 to 10, up 35,369 t/d. day or 17.3% less than the average for 2019. end of September period. The Chinese celebrated the country's National Day from October 1 to 7.