Posted on 26 Jan 2022
Daily crude steel output among the member mills of the China Iron & Steel Association (CISA) recovered over January 11-20, rising by 1.1% or 20,700 tonnes/day from the first 10 days of January to 1.99 million t/d on average, according to the association's new data released on January 25.
Based on its members' steel output, CISA estimated that daily crude steel output among all steelmakers nationwide averaged 2.53 million t/d in mid-January, or up 0.7 percentage point from the prior 10 days.
This matched Mysteel's survey among a larger group of 247 Chinese blast-furnace (BF) and 71 electric-arc-furnace mills it tracks, which showed that their daily crude steel production over January 11-20 mounted by 1.4% or 34,500 t/d from the prior 10 days to 2.52 million tonnes on average.
Mysteel's other survey among the 247 Chinese BF mills showed that their capacity utilization rate had climbed for the sixth straight week over January 14-20, up another 1.19 percentage points to 81.08%, as some mills resumed production after maintenance stoppages or ramped up their output.
As of January 20, the finished steel stocks held by CISA's member mills increased by 227,700 tonnes or 1.8% from January 10 to 13.2 million tonnes. This was also 1.9 million tonnes or 16.4% higher from that on December 31, showing the easing demand ahead of Chinese New Year which begins January 31.
For example, over January 11-20, the spot daily trading volume of construction steel including rebar, wire rod and bar-in-coil among 237 steel traders under Mysteel's tracking averaged 88,689 t/d, falling by 56,784 t/d or 39% from early January.
Source:Mysteel Global
