(HSV VIETNAM GROUP) – Crude steel output of China Iron and Steel Association (CISA) member factories reached 2.11 million tons/day in the period May 1-10, up 3.6% compared to the previous 10 days. Compared to the same period last year, output decreased by 4.3%.
Output increased in early May as factories increased production due to improved profits and completed maintenance at the end of April. Steel prices increased in early May, with Shanghai spot HRC increasing 100 yuan/ton in the first 10 days of the month and rebar increasing 90 yuan/ton. Production profit for HRC reached 150-200 yuan/ton in early May from 50-150 yuan/ton in mid-April.
China's daily crude iron output reached 1.9 million tons/day in the period May 1-10, up 2.4% compared to the period April 21-30, but down 4.8% over the same period last year.
Daily output of finished steel products reached 1.94 million tons/day in the period May 1-10, down 9.9% compared to the period April 21-30, but down 6.8% over the same period last year.
Steel inventories of CISA members as of May 10 reached 16.88 million tons, up 9.4% compared to the period April 21-30 and up 5.1% over the same period last year.
Ha Diem HSV