China’s Jan-May steel exports leap 41% YoY
China’s finished steel exports totalled 36.37 million tonnes over January-May, jumping by a huge 40.9% on year, according to the latest statistics from the country’s General Administration of Customs (GACC) on June 7.
China’s early Jun daily steel output edges down
Daily crude steel output in China edged down over the first ten days of June, with the volume falling by 16,000 tonnes/day or 0.5% from late May to average 2.94 million t/d, according to Mysteel’s survey among the 247 blast-furnace (BF) and 87 electric-arc-furnace (EAF) steel mills it monitors nationwide.
China BF capacity use largely flat at 89.67%
Blast furnace (BF) capacity utilization rate among 247 Chinese steel mills under Mysteel’s survey remained largely unchanged over June 2-8, or nudging up by a minimal 0.01 percentage point on week to 89.67%, as most Chinese steelmakers showed little inclination to change their current production pace.
China’s construction steel prices to firm in June
China’s prices of construction steel comprising rebar and wire rod stand a chance of bottoming out and then rebounding during June, according to Mysteel’s latest monthly report. The price recovery will be driven by firming production costs and hopes that the central government introduces new stimulus policies to lift the domestic steel industry, it said.
Source from mysteel.net
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