China’s steel output declined 6% YoY to 121m tons in January-February, per National Bureau of Statistics. Production was equivalent to 2.02m tons per day, down 3% vs. December, mainly due to long Chinese New Year holiday in February. However, market participants cautioned that output would likely increase soon, as mills have already begun to ramp up output since late-February amid rising prices.
US steel output increases 2.9% WoW to 1.7m st (+8% YoY), with utilization at 73.6% (+210bps WoW, +590bps YoY), for the week ending 3/12, on higher production from all regions except Western area. YTD output is 18m st (-5% YoY) and utilization at 70.1% (-200bps).
US steel output increases 2.9% WoW to 1.7m st (+8% YoY), with utilization at 73.6% (+210bps WoW, +590bps YoY), for the week ending 3/12, on higher production from all regions except Western area. YTD output is 18m st (-5% YoY) and utilization at 70.1% (-200bps).
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