China's Sept daily steel output new record at 2.7 mln t/d
China’s steel output has been growing at a
higher speed in September with its daily output surpassed the previous record
high of 2.67 million tonnes/day for June, Mysteel notes, and the country’s
crude steel output, therefore, grew 6.1% on year to 699 million tonnes over
January-September.
It is not surprising, as those invisible
output until 2017 has made the year-on-year comparison so far for 2018
seemingly rather high, but it is not reflecting the real situation, according
to a Shanghai-based steel analyst.
As for finished steel, China produced 821
million tonnes over January-September, up 7.2% on year, and the tonnage for
September alone was 96.8 million tonnes, or up 9.8% on year, according to the
latest NBS statistics.
Higher crude steel production in September,
reflected China’s persistently high steel margins amid the substantial recovery
in domestic demand in September partly due to the weeklong National Day holiday
in the first week of October, Mysteel notes.
The mills’ profits on rebars spanning August
26-September 25 recorded at Yuan 941/t ($136/t), despite it retreated by Yuan 59/t on
month, based on the findings of Mysteel’s latest production study of 101 steel
firms nationwide comprising 91 blast furnace mills and 10 re-rollers.
Mysteel’s weekly survey on the capacity
utilization rate of blast furnaces at the 247 Chinese steel plants increased
further over September 21-27, up 2.17 percentage points on month to a ten-week
high of 81.42%, as reported.
Written by Thea Feng, fengyx@mysteel.com
Edited by Hongmei Li, li.hongmei@mysteel.com
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