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China crude steel output in November hits seven month low

Steel News - Published on Fri, 14 Dec 2018

Image Source: SteelGuru
National Bureau of Statistics data showed that China’s crude steel output dropped to its lowest in seven months in November 2018 to 77.62 million tonnes down by 4.93 million tonnes as against highest ever record of 82.55 million tonnes in October 2018 hit by shrinking profit-margins at mills and winter restrictions on emissions. That compares to 66.15 million tonnes in November 2017. Average daily output also dipped to the lowest level since April, at 2.59 million tonnes, still much higher than the 2.2 million tonnes per day produced in November 2017. Output over the first 11 months of the year was 857.37 million tonnes, up 6.7% YoY

According to data from Mysteel consultancy, the weekly utilisation rates at blast furnaces in steel mills in China were around 67% last month before dipping to 65.75 percent this week as winter restrictions started in mid-November. That is up from 62 percent in same period last year.

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Posted By : Sanju Moirangthem on Fri, 14 Dec 2018
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