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China’s daily crude steel output during August 1-10 averaged 1.94 million tonnes/day, up by 1.6% or 29,600 t/d from the last eleven days in July, according to the latest data released by China Iron and Steel Association (CISA) on August 17. The latest result reversed the slide of 2.5% in average daily output recorded over July 21-31 to 1.91 million t/d, as Mysteel reported.
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Unlike their peers in elsewhere of China, steel mills in East China’s Shandong province have shown little concern about any affection from the latest round of environmental protection inspections inside the province since mid-August, as they have met all the related requirements, market sources agreed on Thursday.
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China’s billet price stayed on the uptrend as of August 16, while HRB 400 20mm dia rebar benchmark price reversed down on August 16 after witnessing a four-day increase, and sales slipped down further among the tug-of-war between sellers and buyers.
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Goods transportation by railway from Tangshan port, North China, increased significantly in August, market sources confirmed on August 15. Local authorities’ restrictions on trucking and the shift begun nearly a year ago from road to rail as the preferred method of delivery were the major driving factors, Mysteel was told.
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China’s property market, a major downstream user of steel products with longs in particular, is expected to continue to lend support to the domestic steel market with its rebound in July, market sources shared on August 15.
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Jiangsu province in East China has pledged to upgrade and transform the local steel industry and thus meet its target of eliminating 17.5 million tonnes/year of iron and steelmaking capacity during 2016-2020, according to a newly-released local government document seen by Mysteel.
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China’s HRB 400 20mm dia rebar benchmark price had been firming up for the fourth working day as of August 15, but buyers had been gradually retreating from the market, Mysteel notes.
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Note: 1. Data are expressed in US dollars per tonne unless stated otherwise.
2. Delivery date is 30days.
3. All prices are based on bulk production (GB excluded) with a minimum of 500 tonnes.
Please direct your enquiries to us at wangyi@mysteel.com.
Disclaimer: The data is provided only for market reference and Mysteel takes
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Note: 1. Data are expressed in US dollars per tonne unless stated otherwise.
2. Delivery date is 30days.
3. All prices are based on bulk production (GB excluded) with a minimum of 500 tonnes.
Please direct your enquiries to us at wangyi@mysteel.com.
Disclaimer: The data is provided only for market reference and Mysteel
-
Note: 1. Data are expressed in US dollars per tonne unless stated otherwise.
2. Delivery date is 30days.
3. All prices are based on bulk production (GB excluded) with a minimum of 500 tonnes.
Please direct your enquiries to us at wangyi@mysteel.com.
Disclaimer: The data is provided only for market reference and Mysteel
-
Note: 1. Data are expressed in US dollars per tonne unless stated otherwise.
2. Delivery date is 30days.
3. All prices are based on bulk production (GB excluded) with a minimum of 500 tonnes.
Please direct your enquiries to us at wangyi@mysteel.com.
Disclaimer: The data is provided only for market reference and Mysteel
-
Note: 1. Data are expressed in US dollars per tonne unless stated otherwise.
2. Delivery date is 30days.
3. All prices are based on bulk production (GB excluded) with a minimum of 500 tonnes.
Please direct your enquiries to us at wangyi@mysteel.com.
Disclaimer: The data is provided only for market reference and Mysteel
-
Note: 1. Data are expressed in US dollars per tonne unless stated otherwise.
2. Delivery date is 30days.
3. All prices are based on bulk production (GB excluded) with a minimum of 500 tonnes.
Please direct your enquiries to us at wangyi@mysteel.com.
Disclaimer: The data is provided only for market reference and Mysteel
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The local government in Tangshan city in North China’s Hebei province has instructed steel mills in its administrative area that they must remove their nominated obsolete and inefficient iron and steel production capacity by the end of November, according to a recent post on the Tangshan government’s official website.
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China’s fixed asset investment (excluding rural households) grew by 5.5% on year to Yuan 35.6 trillion ($5.2 trillion) over January to July, according to the latest data released by China’s National Bureau of Statistics on August 14. Growth in the country’s FAI was off by 0.5 percentage point from the level witnessed during January-June and was also the slowest since 1999, NBS said.
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China’s daily crude steel output last month failed to reach the all-time-high set in June, albeit not by much, losing 2% on month to an average of 2.62 million tonnes/day, the same average recorded in May, according to the latest data released by the National Bureau of Statistics (NBS) on August 14. The June average was 2.67 million t/d.
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Mysteel’s HRB 400 20mm rebar benchmark price surged Yuan 57/tonne ($8.3/t) on day to Yuan 4,468/tonne including the 16% VAT on August 13, a new high since the beginning of 2018 as market participants were in a buoyant mood, expecting for price rises.
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Billet prices in North China’s Tangshan city, a key indicator of market price trends, are enjoying an unusually strong summer, thanks to keen buying from re-rollers, now back in business after observing government-mandated production restrictions.
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China’s daily steel output declined by a small degree during the first ten days of August to an average of 2.28 million tonnes/day, Mysteel has estimated. If realized, this would represent a tiny 0.74% dip from the previous eleven days at the end of July.
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Daily crude steel output among China’s major steel mills over July 21-31 averaged 1.91 million tonnes/day, lower by 2.5% or 49,000 t/d from the average during the ten days prior, according to the latest data released by the China Iron and Steel Association (CISA) on Friday.
