China's daily steel production up 0.6% in early October

Daily crude steel production at China's 247 blast furnace (BF) and 71 electric arc (EAF) plants in the Mysteel study increased slightly to 2.6 million tonnes per day on average in the first decade of October, an increase of 16,100 t /d or 0. 6% from the end of September, due to the weakening of electricity rationing in some regions of the country during this period.

The early October result put an end to the continuous decline since late July, as some steel mills in North China's Inner Mongolia, Shandong and Jiangsu provinces in eastern China, and Yunnan province in southwestern China resumed production from early October after local authorities the authorities partially relaxed measures to restrict power. As it became known to Mysteel Global, after tightening the restrictions in September.

This was in line with other weekly surveys, 247 blast furnaces averaged 79.94% capacity utilization from October 1 to 7, up 1.25 percentage points from the previous survey period after slumping for four consecutive weeks and 71 plants. The EAE also rose 3.63 percentage points over the week to 47.76% in the same period after declining in the previous three weeks.

Despite the recovery, daily crude steel production in early October was still 11.2% lower than a year earlier, as many Chinese steelmakers continued to face energy constraints due to ongoing energy constraints in energy-intensive industries. ... ...

Domestic steel prices continued to rise after the national holiday, boosted by hopes for improved demand by replenishing end-users after the break, and limited growth in steel production due to power shortages.

As of October 9, China's makeup business day after a week's holiday, the national price of 20mm HRB400E rebar has renewed its new high since May 17 and reached RMB 6039 per tonne ($ 938 per tonne), including VAT of 13%. which is 114 yuan per tonne higher than on September 30.