China’s BF capacity use dips 4th week to 89.03%
The blast furnace (BF) capacity utilization rate among 247 Chinese steel mills under Mysteel’s survey had eased for the fourth straight week by another 0.46 percentage point on week to 89.03% over May 5-11, indicating that more mills had trimmed steel production in reaction to their persistently thinning margins or widening losses.
Steel stocks at Chinese traders decline
Finished steel inventories held in the warehouses of the Chinese traders regularly sampled by Mysteel declined during May 5-11 after the brief uptick in the prior week, thinning by 3.8% on week to reach 20.4 million tonnes, the latest survey shows, mainly as trading activities resumed following the Labour Day holiday. But market sources still worry about the strength of steel demand among end-users.
China construction steel prices to see upturn in May
Prices of construction steel products across China may see signs of stabilizing or even achieve a rebound this month, in anticipation of domestic steelmakers’ output cuts which may last for several weeks in a row, Mysteel predicted in its latest monthly report.
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