China's daily steel production continues to rise in September

Daily crude steel production in China continued to rise during the first ten days of September and averaged 2.86 million tons per day, another 102,100 tons or 3.7% more than at the end of August, Mysteel calculated based on its regular survey. among 247 blast furnaces and 85 blast furnaces. electric steel plants throughout the country.

The continuous rally mainly reflected the fact that more Chinese steelmakers in East, North and Northeast China, including BF and EAF, have resumed operations after completing scheduled maintenance, with their capacity utilization increased accordingly, Mysteel Global notes.

From September 2 to September 8, the capacity utilization rate among the 247 sampled EAFs increased for the sixth consecutive week and averaged 87.56%, up 0.73 percentage points for the week, while for the 85 surveyed EAFs the indicator for the same period recovered to 52.09%. period, up another 6.26 percentage points in the second week from the previous week, according to another weekly Mysteel survey.

China entered the traditional peak season for steel consumption in September-October, when high temperatures in many regions of China disappeared, while steel demand from end-users generally remains low, although it improved slightly from the previous month, according to Mysteel Global. .

For example, the daily trading volume of construction steel, including rebar, wire rod and coiled bars, among 237 Chinese trading houses monitored by Mysteel averaged 171,033 t/d between September 1 and 10, up by 26,509 t/d , or by 18.3%. of this at the end of August.

Prices for finished steel in China remained in the range in early September, as high-value products continued to struggle to find buyers. As of September 9, the national price of 20mm HRB400E rebar, a measure of domestic steel market sentiment, was priced at 4,135 yuan per tonne ($598 per tonne) by Mysteel, including 13% VAT, adding just 1 yuan per tonne. from the end of August.