China-world’s largest crude steel producer has reported highest record of 416.34 MnT output in H1 CY17, up 4% Y-o-Y.
According to recent data released by National Bureau of Statistics, China’s crude steel output in Jun’17 was assessed at 73.23 MnT ,higher by 5.4% as compared to previous year.In Jun’16 the same stood at 69.47 MnT.
On monthly premises, crude steel production reported a marginal rise of 1.3% M-o-M against 72.26 MnT in May’17.
China’s crude steel output climbed 4% in H1 CY17 -In first half of CY17 (Jan-Jun’17) nation’s crude steel output increased by 4% to 416.39 MnT as compared to 401.72 MnT in similar time frame of previous year.
Chinese flat steel prices soared amid gains in domestic market-Bullish sentiments backed by strong demand in China shows that they have kept the promise to utilize the surplus capacity in home market rather than exporting cheaper imports to other countries.Domestic prices have shown the constant hike and have reached to the levels of RMB 3,500/MT (including VAT and other taxes) by the end of Jun’17, up 11% since beginning of last month.
Chinese HRC export offers moved up by USD 10/MT, M-o-M in Jun’17.
Chinese HRC export offers have shown upward momentum and increased by USD 10/MT,M-o-M basis from USD 440/MT in Jun’17 compared with USD 450/MT in May’17
Leave a Reply