China’s crude steel output dips further in late January

China’s crude steel output continued to dip in late January, amid a depressed market and record low steel prices.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

Member mills of the China Iron & Steel Assn (Cisa) produced an average of 1.688 million tpd of crude steel during the last eleven days of January, down 0.35% from the preceding ten days, according to data released by the industry body on Tuesday February 10.

Cisa members, which are mainly medium-sized and large steelmakers, account for roughly 80% of the country’s total steel output.

The output decline was within market expectations, as some Chinese mills had started maintenance in late January to relieve flagging prices.

In Tangshan city, the country’s steelmaking hub in Hebei province, blast furnace utilisation rates averaged 91.64% at the end of last month, down from 96.52% in mid-January, according to market sources.

As at January 31, Cisa member mills’ combined finished steel inventory totalled 14.767 million tonnes, almost flat with January 20 levels, Cisa data shows.

What to read next
General Motors (GM) is investing $650 million to develop the Thacker Pass mine in Nevada, the largest known source of lithium in the US and the third largest in the world
Electrolysis processes developed by Boston Metal and Electra that eliminate the need for coal in steel production could be key to a net-zero emissions future for the metallics industry, attendees learned at Fastmarkets’ conference on January 17-19 in Dallas
US deep-sea ferrous export prices from the East Coast to Turkey have plateaued, with a Turkish mill purchasing a cargo at prices stable from the last-reported sale
Following a six-week consultation period, Fastmarkets can confirm it will amend the calculation method for all the average functions on the Fastmarkets platform from Wednesday March 1, 2023.
Consolidation, the recycling of electric vehicle batteries, US steel exports and the benefits of sustainable steelmaking were key talking points at Fastmarkets’ Scrap & Steel 2023 conference in Dallas in January
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.