China's total crude steel output decreased
China's total crude steel production decreased to 4.1% yoy due to lower output in April. Crude steel output in the first three months increased by 6.1% to 354.4 million tons.
April production down y-o-y
In April alone, China's crude steel production decreased by 1.5% yoy to 92.64 million tons. Daily crude steel production stood at 3.09 million tons/day.
87 EAO comprehensive capacity utilization down to 56.26
87 EAO capacity utilization fell for the fourth consecutive week to 56.26%, while 247 BF steel capacity utilization fell for the week to 90.63%.
Why did China's crude steel production fall?
China's crude steel output is being negatively burdened by shrinking profit margins at some electric arc furnace (EAF) mills and lower-than-expected demand from end-users. Producers have started to cut production on the basis of March administrations.
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