During Jan-Feb’18, China’s crude steel output climbed by 6% Y-o-Y to 136.8 MnT.
China’s monthly crude steel production witness increase in Feb’18 against previous month.In Feb’18 country’s crude steel production stood at 69.8 MnT inched up 4% against 67 MnT in Jan’18.
Nation’s crude steel output reported rise in the month of Feb’18 after witnessing drop in production volumes from past three months amid winter production cuts announced by Chinese government to curb smog.
Also on yearly basis nation’s crude steel performance reported the increase of 14% Y-o-Y basis in comparison to 61.19 MnT in Feb’17.
In first two months (Jan-Feb ) of CY18 nation’s crude steel output increased by 6% to 136.8 MnT as compared to 128.77 MnT in similar time frame of previous year.
Despite production cuts announced by the Chinese government in Northern Tangshan cities,other steel mills have raised their capacity utilization in first two months of CY18.
Higher steel prices supported increased crude steel output-
Crude steel output recorded increase in first two months of this year on the backdrop of higher steel prices post festive holidays.
In the month of Feb’18 average domestic prices of HRC stood at RMB 4,115/MT (ex- works eastern China).
However HRC export offers when averaged stood at USD 590/MT, FoB China in Feb’18 rising marginally by 3% against USD 573/MT, FoB in Jan’18.
Leave a Reply