Wednesday, 02 Feb 2011
The latest ten day report by CISA shows that, the crude steel output of its members during the mid-ten days of January was about 14.89 million tonnes corresponding to 16.95 million tonnes for the whole country. The daily output for the ten days stood at about 1.7 million tonnes down 98,000 tonnes MoM.
Data also shows that China output of crude steel for the first twenty days of January was about 34.17 million tonnes, equivalent to 1.71 million tonnes on daily average and that of pig iron and steel products posted at 1.59 million tonnes and 2.16 million tonnes on daily average.
Analyst told the paper that the decline of crude steel production in the mid January was partly due to mills’ equipment maintenance. WISCO eyed a daily reduction of 12,000 tonnes and Shagang Group of 8,000 tonnes for instance.
Insiders believed that mills’ operation rate is escalating this month under the profit impetus and it is expected to go up further, though production will undoubtedly be affected during the Spring Festival Holiday.(sourced:China Business News)