Daily crude steel output among the 97 member mills of the China Iron and Steel Association (CISA) increased further over June 11-20, refreshing a new high to average 2.14 million tonnes/day, according to CISA’s release on June 24, higher by another 33,100 t/d or 1.6% from the prior ten days. The mills were eager to capitalize on the still-reasonable profit margins they could earn and so stepped up production, as Mysteel Global has been reporting.
China’s national HRB400 20mm dia rebar price reversed down by Yuan 9/tonne ($1.3/t) on day to Yuan 3,793/t including 13% VAT as of June 23, losing losing all the gains over June 19-22, according to Mysteel’s assessment, and the daily trading volume remained largely stable though traders admitted the growing difficulty in receiving payments from the end-users.
周刊：中国由$ 5 /牛逼提高螺纹钢出口价格2020年6月23日
Over June 13-19, China’s steel exporters had raised their offering prices of the B500B 18-25mm rebar by another $5/tonne on week to $441/t FOB Shanghai port on average, in contrast to the recent softening in China’ domestic steel prices together with the weakening in demand in the rainy season.
钢production in Asia in May including that of China, the world’s largest steelmaking country, posted a 3.3% on-year decline to 113.5 million tonnes, while the whole world’s steel output fell more substantially by 8.7% on year to 148.8 million tonnes, according to the latest data from the World Steel
Carbon steel sales at China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, continued to drop in May, sliding by another 14.8% on month to 730,444 tonnes, the lowest record since March 2015, a company official confirmed. Steel demand both at home and abroad had not recovered last month, he admitted.
China’s daily crude steel production continued to edge up over the middle ten days of June, with the tonnage growing by another 27,500 tonnes/day or 1% from the prior ten days to average 2.92 million tonnes, according to Mysteel’s latest survey among the country’s 247 blast-furnace and 71 electric-arc-furnace steel producers.