China Jan-Sept steel exports down 3.4% YOY
China’s finished steel exports totaled 51.21 million tonnes over January-September, down 3.4% on year, while the country’s finished steel imports dropped by 22.1% on year to 8.34 million tonnes during the same period, according to the latest release by the country’s General Administration of Customs on October 24.
Chinese traders’ stainless stocks down 3.5%
Inventories of finished stainless steel at commercial warehouses in Wuxi and Foshan, China’s two core stainless trading hubs, continued to decline over October 21-27, with the total volume sliding for the second week by another 3.5% on week to 538,867 tonnes, according to Mysteel’s latest weekly survey.
China imported iron ore prices fall further
China’s prices of imported iron ore for port inventories and seaborne cargoes softened again on October 28, while trading in the portside market picked up very slightly.
China’s BF capacity use dips 2nd week to 87.64%
The blast furnace (BF) capacity utilization rate among 247 Chinese steel mills had dipped for the second week by another 0.62 percentage point on week to 87.64% over October 21-27, as some steel mills continued to rein in output in response to their persistently thinning steel margins or even losses.
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