WEEKLY: China's HRC output rebounds after curbs lifted

Hot-rolled coil (HRC) production among the 37 Chinese steelmakers regularly surveyed by Mysteel increased by 49,500 tonnes or 1.7% on week during March 12-18 to around 3 million tonnes, as integrated mills resumed production following the conclusion of China’s ‘Two Sessions’ political meetings on March 12 and the subsequent easing of production controls, Mysteel Global learned.

During the survey week, the hot coil rolling capacity utilization rate among these sampled steel mills rose by 1.22 percentage points on week to average 76.65%, while their average operation rate stood unchanged for the third consecutive week at 78.13%. With downstream demand for hot coils gradually picking up – albeit at a slow pace – as spring returns, HRC inventories at both steel mills and in traders' warehouses were seen