China's Crude Steel Output Hits Record High in October

China's crude steel output increased to hit record high in Oct'18 before winter production cuts come into action. China's crude steel output was recorded at 82.55 MnT in Oct'18 increased 2% against Sept'18.

As per data maintained with SteelMint for past 3-4 years, this is China's highest crude steel monthly output reported ever. Previous best was seen in Jul'18 at 81.2 MnT.

Chinese steel mills had raised their capacity utilization at their blast furnace in October ahead of the winter output cuts which is expected to reduce steel output in the coming months.

Steel making units in Tangshan's top steel making cities - Hebei, Handan have been ordered to cut production depending on their emission levels so as to restrict pollution starting from mid-November. This is expected to reduce steel output in the coming months.

Domestic steel prices in October- On an average basis domestic HRC prices stood at RMB 4,202/MT (Eastern China) Iin Oct'18 as compared to RMB 4,319/MT (Eastern China) in the month of Sep'18.However domestic rebar prices stood at RMB 4,584/MT in Oct'18 against RMB 4,507/MT in previous month.