China’s crude steel output falls 0.7% in late September
China’s daily crude steel output for the last ten days of September stood at 1.843 million tonnes, down from 1.8565 million tonnes in the previous period, according to the China Iron & Steel Assn (Cisa).
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Output from Cisa members dropped 0.9% to 1.509 million tpd in late September.
Crude steel output averaged at 1.8648 million tpd in the month, down 3% from August production.
“The actual output for late September may be higher, since the production of private steel mills could rebound beyond Cisa’s estimation, which is based on major mills,” a trader in Shanghai said.
“Private mills, which are more flexible in operations, ran at higher production utility rates, after steel prices rebounded in September,” an industry analyst in Beijing said.
Hot rolled coil prices in eastern China gained 375 yuan ($59) from the beginning of September to 3,600-3,650 at the end of the month.