The fall in daily steel production at 247 Chinese blast furnaces and 71 electric arc plants, according to the Mysteel study, resumed in the last eleven days of October, following the growth seen in early and mid-October. New data shows production fell by an average of 52,400 tonnes per day, or 2% from the previous ten days, to 2.58 million tonnes per day on average, the lowest since the end of March 2020.
At the end of October, prices for finished steel in China continued to fall due to low demand from end consumers and pessimism in the domestic market.
October is the traditional peak month for steel consumption in China, especially long products, with pleasant autumn weather that encourages outdoor construction work. However, this year, demand from end users has not met market expectations.
From 21 to 31 October, the daily trading volume of construction steel, including rebar, wire rod and coils averaged 164,180 t /d, well below the 200,000 t /d threshold for the peak season, or 8,116 t /d, or by 4.7% over the previous ten days.
China's daily steel output fell 2% at the end of October
|
Azovpromstal® 2 November 2021 г. 10:02 |
