Nation’s crude steel output recorded 7 month’s low in Oct’19 at 81.52 MnT. This is the second-lowest output in CY19 as the first lowest was last seen in Mar’19 at 80.33 MnT.
As per the data released data, China’s crude steel output inched down by 2% to 81.52 MnT in Oct’19 as compared with 82.77 MnT a month ago.
The imposition of production curbs by the Tangshan provincial government from 24 Sep-7 Oct, followed by another announcement from Oct 10th to 31st Oct’19 to suspend their blast furnace production capacity by no less than 50% on an average for 29 out of 33 local steel mills, which has resulted to lower crude steel output in Oct’19.
Meanwhile, the nation’s crude steel output inched down by 1% Y-o-Y basis in Oct’19 in comparison with 82.55 MnT in Oct’18.
During the first ten months (Jan-Oct) CY’19, the nation’s crude steel output aggregated to 828.32 MnT, increased by 7% over 775.76 MnT in a similar time frame of CY’18.
Outlook for Nov’19- Slow demand in the winter season may further shrink the nation’s crude steel output in the coming months. Meanwhile, major steel-producing cities in China are yet to announce the scheduled dates to trim excess production in the upcoming winter season.
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