The growth in daily crude steel output among the 318 Chinese steel mills under Mysteel’s regular survey since mid-April continued over June 1-10, rising by another 21,900 tonnes/day or 0.7% from the prior eleven days to average 3.08 million t/d, according to the latest findings released on June 11. The average also refreshed the all-time high since Mysteel first conducted the survey in January 2018.
The 318 surveyed mills comprise 247 blast-furnace
(BF) and 71 electric-arc-furnacemillsacrossChina. The
persistent growth suggested that domestic steel mills continued to ramp up
production in early June despite their profit margins being undermined by the
fall in domestic finished steel prices.
As of June 10, China’snational price of
HRB400E 20mm dia rebar, a barometer ofthe country’s