China’s Metal Market: Steel Consumption Rises in 2023

China’ssteelconsumptiontorise0.6%in2023

China’sapparentconsumptionofcrudesteelisexpectedtoedgeupby5.97milliontonnesor0.6%onyearto973.9milliontonnesin2023,Mysteelpredictsinitsnewly-publishedforecastforthedomesticsteelmarketforthisyear.

Chinesetraders’stocksrisebyanother9%onweek

TheinventoriesoffinishedsteelproductsheldbyChinesetraderstrackedbyMysteelgrewagainoverJanuary6-12byanother9.4%onweekandregisteringthethirdstraightweeklyrise,thelatestMysteel’ssurveyshows.Behindthefurtherrisewasthestrongerholidaymoodinthesteelmarketthatiscausingsteelsalestoslow,asmoremarketparticipantsleaveforhometocelebratetheapproachingChineseNewYear(CNY)holiday,sourcessaid.

ChinaearlyJandailysteeloutputat5-mthlow

China’sdailycrudesteeloutputcontinuedtodecreaseduringthefirsttendaysofJanuary,withthetonnagedownbyanother104,500tonnes/dayor3.9%fromthelateDecemberperiodtoaverage2.6milliont/d,thelowestsincelastAugust,accordingtoMysteel’ssurveyamong247blast-furnace(BF)and85electric-arc-furnace(EAF)steelmillsnationwide.

China’sDecemberaluminumproductionincreased8.03%YoY

AccordingtoMysteeldata,China’sprimaryaluminumproductionwas3,463,600tonnesinDecember,up3.8%onmonthand8.03%onyear.Dailyoutputincreasedby0.4%onmonthto111,700tonnes.

BytheendofDecember,totalprimaryaluminuminstalledcapacitywas44.95milliontons/year,up0.58%onmonthand4.33%onyear.Theoperatingcapacitywas40.7milliontons/yearbytheendofthemonth,down0.29%onmonthandup6.75%onyear.TheoperatingrateinDecemberwas90.55%,down0.79%onmonthandup2.05%onyear.

AccordingtoMysteeldata,around137,000tonsofcapacityhavebeenrestartedinDecember,bringingthetotalrestartsto3.98milliontonnesin2022.Yunnan,Guangxi,InnerMongolia,Qinghai,Shanxi,SichuanandGansuwerethemainlycontributorstothecapacitygrowth.InDecember,China’sprimaryaluminumrestartsconcentratedinGuangxiandSichuan,whichwereslowerthanexpectedduetohighcostandlowprofit.

InDecember,thenewlyaddedproductioncapacitymainlyconcentratedinInnerMongoliaandGuizhou.AccordingtoMysteel’ssurvey,GuizhouYuanhaoAluminumputthefirstphaseintoproductiononDecember29,anditisexpectedtoreach100,000tonnes/ainthefirstquarterof2023.

Source frommysteel.net

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