China’s H1 steel exports jump 31% YoY
China’s total steel exports increased by 31.3% on-year to reach 43.58 million tonnes during the first half of 2023, according to the latest data released by China’s General Administration of Customs (GACC) on July 13.
Members’ early July daily steel output dips further
Daily crude steel output among the member mills of the China Iron and Steel Association (CISA) declined further over July 1-10, nudging down 0.3% or 5,600 tonnes/day from the last 10 days of June to 2.24 million t/d on average, according to the association’s latest release on 12th July. Nevertheless, the member mills’ total daily output was still 8% higher than the corresponding period last year, the data showed.
China’s H2 steel consumption to fall 5.7% on year
China’s apparent consumption of crude steel is expected to fall by 27.8 million tonnes or 5.7% on year to 459.8 million tonnes in the second half of this year, Mysteel predicts in its newly-published forecast for the domestic steel market.
China’s BF capacity use retreats from 5-week incline
The blast furnace (BF) capacity utilization rate among the 247 Chinese steel mills under Mysteel’s regular survey retreated after five weeks of inclines, down 0.91 percentage point on week to 91.2% over July 7-13, yet still hovering at a high level as most mills maintained high production while a few in North and East China launched regular maintenance on their facilities, market sources commented.
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