According to recent data released by National Bureau of Statistics, China’s crude steel output has increased by 1.2% Y-o-Y to 808.4 MnT in CY16.
In Dec’16, China’s crude steel output was recorded at 67.2 MnT, up 3.2% against Dec’15. On monthly premises, China’s crude steel output was higher by 1.4% in Dec’16. In Nov’16, the same stood at 66.29 MnT.
Chinese finished steel prices rallied in 2016 – Finished steel prices in China exhibited sharp hike in CY16 amid increase in coal prices. Chinese HRC export offers which were at USD 263/MT, FoB China towards the beginning of CY16 increased sharply and touched USD 525/MT, FoB China by the year end.
China’s crude steel output to touch 825 MnT in CY17 – As per reports, despite announcements to curb overcapacity in crude steel output, China will produce nearly 825 MnT crude steel in 2017. However most of it will be utilized for domestic purpose.
Leave a Reply