China's average daily steel production fell slightly in the middle of September, with tonnage down 7,200 tonnes/day, or 0.2%, from early September to an average of 3.03 million tonnes/day, according to Mysteel's estimate based on survey of 247 blast furnace (BA) and 87 electric arc (EA) steel mills across the country. However, the slight drop ended a continuous rally that began in early August, Mysteel Global said.
The drop in steel production during the study period was due to some steel mills suspending operations for maintenance, Mysteel Global noted.
Another weekly Mysteel survey found that between September 8 and 14, capacity utilization at the 247 regularly monitored blast furnace plants fell by 0.11 percentage points for the week to an average of 92.65%. At the same time, the rate among the 87 EDP factories under its supervision also decreased by 0.3 percentage points compared to the previous week to an average of 53.3%.
Domestic physical steel prices strengthened in mid-September as sentiment improved due to improved spot sales performance, Mysteel Global. Sales have increased as end-users stockpile steel products ahead of the long Mid-Autumn Day and National Day holidays, which begin on September 29.
China's daily steel production fell in September
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Azovpromstal® 25 September 2023 г. 14:52 |
