HomeProduct Complimentary download China key steel mills daily output down 0.28pct in early-March

China key steel mills daily output down 0.28pct in early-March

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Publish time: 23rd March, 2016      Source: www.cnchemicals.com
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The daily output of China’s key steel mills edged down 0.28% from ten days ago to 1.59 million tonnes in early-March, according to the latest data released by the China Iron and Steel Association (CISA).China’s daily crude steel output in early-March was estimated at 2.08 million tonnes, dropping 1.8% from late-February.By March 10, stocks in key steel mills posted a second straight ten-day fall of 0.64% or 88,600 tonnes to 13.71 million tonnes.Domestic prices of the six major steel products all increased in early-March, with rebar price averaging 2146.9 yuan/t, up 8.2% from late-February, showed data from the National Bureau of Statistics (NBS).Over January-February, China produced 121.07 million tonnes of crude steel, dropping 5.7% from the previous year; China’s daily crude steel output also fell 7.27% on year to 2.02 million tonnes in the same period, according to the NBS data.In spite of the drop in output, profits in steel mills witnessed an increase as steel and iron ore prices gained more strength in February; in March, demand from industrial activities showed uptick due to better performance of the housing sector.Thus, crude steel output may see a slight increase in later period, thanks to the rising demand from end-users combined with higher operating rates and profits in steel mills.By March 21, China’s social stock of steel products stood at 11.82 million tonnes, falling 398,500 tonnes on week, among which rebar stocks contributed 250,000 tonnes, indicating a better demand from downstream sectors.The lower-than-expected stock level will provide a stronger support for steel prices.CCR cordially invites you to participate in the 6th Global Coking Coal Resource & Market Summit to be held from 24th to 25th March 2016 in Taiyuan, Shanxi Province. The summit will provide professional insights on great changes that will impact market players over the mid and long term and how they should cement their positions in the market. For more details, please contact Gina Cao at +86 351 7219322 / gina.cao@fwenergy.com or click HERE.