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Mysteel’s portside iron ore index was assessed at Yuan 693/wmt ($97.6/wmt) FOT Qingdao and including the 13% VAT on October 18, after edging down by Yuan 1/wmt on day. Also on Friday, the seaborne index softened by a tiny $0.3/dmt on day to $85.55/dmt CFR Qingdao.
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The blast furnace (BF) capacity utilization rate among China’s 247 BF steel companies under Mysteel’s weekly survey increased further by another 1.66 percentage points on week to 78.6% over October 11-17, and their daily molten iron output up further by 46,400 tonnes/day on week to 2.2 million t/d.
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Shagang Group (Shagang), China’s largest electric-arc-furnace (EAF) steelmaker headquartered in Zhangjiagang city in East China’s Jiangsu province, has lowered its procurement price for steel scrap again, clipping Yuan 30/tonne ($4.2/t) off buying prices for all grades effective from October 18 deliveries, the company announced on Friday morning. Shagang has now cut its scrap prices three times since October 13 by a total of Yuan 90/t, Mysteel Global notes.
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China produced 354.4 million tonnes of coke over January-September, some 6.3% higher on year. Over the same nine months, the country’s output of raw coal including thermal and metallurgical coal increased by 4.5% on year to 2.7 billion tonnes, according to the latest National Bureau of Statistics (NBS) data published on October 18.
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China’s GDP grew 6.2% on year over January-September, still within Beijing’s 6-6.5% economic growth target for 2019, though the growth for Q3 fell another 0.2 percentage point from Q2 to 6% on year, or a new low after Q2 since China started the GDP statistics in 1992, according to the latest statistics from the country’s National Bureau of Statistics on October 18.
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Separately, Mysteel’s other survey on a bigger scale
showed that the coming capacity utilization rate of the 230 independent coke
plants across China rose by 1.12 percentage point on week to 75.08% as of October
17. Their average daily coke output increased 10,100 tonnes/day on week to 671,500
tonnes/day. Coke stocks at these plants
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Edited by Sean Xie, xiepy@mysteel.com
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Note: the 53 typical
independent coking plants in the weekly survey include 18 with capacity below 1
million tonnes/year, 20 between 1-2 million t/y, and 15 above 2 million t/y.
Edited by Sean Xie, xiepy@mysteel.com
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Note:Qingdaoporthas been
included in the tablesince April 28 2017.
Edited by Sean Xie, xiepy@mysteel.com
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Note:
1. The stock and days of
consumption are on average basis. The numbers are with limited
representativeness due to the variety of the surveyed plants, while the
week-on-week change may reflect market trend to some degree.
2. The coking plants surveyed by www.coal.glinfo.com include53 coking
plants affiliated to steel mills, and100independent coking plants
across
