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The closing price of the most-traded rebar contract on the Shanghai Futures Exchange for January delivery jumped by Yuan 133/tonne ($19/t) on week to Yuan 3,545/t as of November 15.
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China’s pig iron production in October marked the first on-year decline for 2019, with output slipping by 2.7% to reach 65.58 million tonnes, according to the latest data released by the country’s National Bureau of Statistics (NBS) on November 14. The total tonnage was also down 1.7 million tonnes or 2.6% on month, the data show.
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Daily output among Chinese steelmakers of the five major carbon steel items this month is expected to reverse up from October, growing by 100,000 tonnes/day or some 6% on month to 1.8 million t/d on average, according to Mysteel’s latest monthly production survey among 216 steelmakers across China released on November 13.
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China’s crude steel production continued to grow over January-October, rising by 7.4% on year to 829.2 million tonnes, but the year-on-year growth was 1 percentage point lower compared with the 8.4% yearly growth recorded for the first nine months, according to the latest statistics released by the country’s National Bureau of Statistics (NBS) on November 14.
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Daily crude steel output among the 97 major steelworks members of the China Iron and Steel Association (CISA) reversed down though only by 8,700 tonnes/day or 0.4% from October 11-20 to 1.97 million t/d on average over October 21-31, according to the association’s latest release.
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China’s fixed asset investment (FAI) in general grew 5.2% on year to Yuan 51.1 trillion ($7.3 trillion) over January-October, and the growth in the funding in the property sector was recorded at 10.3%, according to the latest release from the country’s National Bureau of Statistics (NBS) on November 14.
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China’s national average price for HRB400 20m dia rebar rose for the second day by another Yuan 22/tonne ($3.1/t) on day to Yuan 3,918/t including the 13% VAT as of November 13, as traders held firmly onto their offering prices and market sentiment stayed rather steady amid positive signs such as less supply with winter coming and the prospect of the trade talks between China and the U.S.
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China's crude steel output grew 7.4% on year to about 829 million tonnes over January-October, with the October volume down 0.6% on year to 81.5 million tonnes. A detailed report will be posted soon.
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China's fixed asset investment in general grew5.2% on year to Yuan 51.1 trillion ($7.3 trillion) over January-October, among which the funding in the property market went up 10.3% on year to Yuan 11 trillion. A detailed story will be posted soon.
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Tangshan Q235 150mm square billet price remained steady at Yuan 3,330/tonne ($476/t) EXW and including 13% VAT as of November 8, the same as last Friday, while demand from local re-rollers eased, according to Mysteel’s surveys, and the billet price has been hovering at the level of Yuan 3,300/t for over one month amid the overall steadiness in the domestic steel market.
