China mines’ iron ore output falls, stocks up
Domestic production of iron ore concentrates among the 186 Chinese mining enterprises canvassed in Mysteel’s bi-weekly survey reversed down during August 12-25 from the rises witnessed during the two prior periods to hit a three-month low of 499,200 tonnes/day, down 9,600 t/d on fortnight.
Steel stocks at Chinese traders thin further, pace slows
Chinese traders saw their stocks of the five major steel products continue declining during August 19-25, but the total volume fell at a slower pace of 1.7% on week, as against the 2.8% on-week decline seen in the prior week, Mysteel’s latest survey showed. The pressure to destock may gradually increase, with finished steel output rising at a time when demand is yet to show any substantial improvement, market sources warned.
China rebar output up further on improved profits
China’s rebar output from 137 steel producers nationwide under Mysteel’s survey had increased for the fourth successive week by another 123,000 tonnes or 4.9% to 2.65 million tonnes over August 11-17.
China’s mid-Aug daily steel output rises further
China’s daily crude steel output continued to recover during the middle ten days of August, rising by another 88,500 tonnes/day or by 3.4% from the prior ten days to 2.7 million t/d on average, Mysteel estimated, based on its regular survey among 247 blast-furnace and 85 electric-arc-furnace steel mills nationwide.
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