China's steel inventories are still elevated and there are few indications that steel production is slowing.
In the last 10 days of January, crude steel inventories at China's major steel mills increased by 1.27 per cent to almost 2.2 million tonnes when compared to the previous 10 day period, according to the most recent data from the China Iron and Steel Association (CISA).
Daily crude steel production at the country's major steel firms over the same period averaged 1.68 million tonnes, a 0.35 per cent fall on average daily production over the preceding 10 days.
According to the article, last year China's major steel mills produced over 823 million tonnes of crude steel. However, estimates reveal that the capacity utilisation in the industry could be as low as 64.5 per cent.
This indicates that it's way too early to start talking about the end of the steel industry's "winter" period.
Source: Business Spectator
- metaljunction »
- Metal News
Metal News & Events
METALJUNCTION PUBLICATIONS
Coal Insights (English) Monthly
Coal Insights is a ready reckoner for anyone associated with coal. This publication is aimed at tracking everything related to coal in India.
India Coal Market Watch(English) Monthly
ICMW is a one-stop source for all news, data and research pertaining to coal demand, consumption, stocks, spot- and long-term prices with respect to the Indian Market.
India Steel Market Watch (English) Monthly
ISMW is a brand new high-end steel market report, covering all aspects of the steel industry in India.
Steel Insights(English) Monthly
Steel Insights delves into various facets of the domestic and global steel industry such as market fundamentals, raw material price trends, price forecasts etc.