Market: China mills actively restocking raw materials
Jan 15, 2021 18:01
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With the Chinese New Year (CNY) holiday starting February 11 less than a month away, many Chinese steel mills have begun stocking up their raw materials yards with additional feeds, especially iron ore and steel scrap, to tide them over the break. Though the inventory build of those seems to be progressing smoothly, the mills are still crying out for coke supply, according to market sources on Friday.
Complicating their efforts further is the fact that most domestic makers are still maintaining relatively high steel output levels, which is also lending strong support to raw materials demand, Mysteel Global notes.
According to the latest data, over January 8-14 the blast furnace (BF) capacity utilization rate among the 247 steel