China’s crude steel output in late-January down, Cisa says
China’s crude steel output for late-January fell 0.45% compared with the middle of the month, according to China Iron & Steel Assn’s estimates.
Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.
Daily crude steel output totalled 1.906 million during the last 11 days of the month, compared with 1.914 million tonnes in mid-January.
Cisa members, including state-owned and large steel mills, recorded a daily production of 1.604 million tonnes, down 0.53% from the previous period.
China’s daily crude steel output started to drop in mid-January.
“Downstream industries have suspended most of their production [in anticipation of the Chinese New Year this weekend]. Steelmakers are worried that boosting output could drag down the market given that demand has weakened considerably,” an analyst in Beijing said.