According to statistical data, China’s crude steel and steel product supply reached 518.91 million tonnes and 795.96 million tonnes respectively in January–July, representing a year-on-year decline of 6.1% and a growth of 4.5%.
In July alone, supply stood at 68.12 million tonnes of crude steel and 113.57 million tonnes of steel products, down 9.3% and up 4.9% year-on-year, respectively. The average daily supply during the month was 2.198 million tonnes of crude steel and 3.664 million tonnes of steel products, down 8.9% and 7.4% month-on-month. Both crude steel and steel product supply decreased month-on-month in July.
Last week, inventories of the five major steel products in the domestic market continued to rise, while average daily transactions declined week-on-week. Blast furnace operating rates inched up, whereas electric arc furnace operating rates edged down
