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China HRC output to rise sharply in January amid recovery from maintenance

iconJan 14, 2021 15:04
Source:SMM
China’s output of hot-rolled coils and plates is likely to expand significantly in January, as steel makers complete maintenance of blast furnace and rolling lines and as decent profits encourage mills to ramp up production.   

SHANGHAI, Jan 14 (SMM) —China’s output of hot-rolled coils and plates is likely to expand significantly in January, as steel makers complete maintenance of blast furnace and rolling lines and as decent profits encourage mills to ramp up production.   

An SMM survey showed that 35 steel makers in China plan to produce a total of 10.69 million mt of hot-rolled coils and plates in January, up 2.7% from the realised output in December.

A pick-up in overseas demand and decent profits encourage Chinese HRC producers to pour more cargoes into the overseas market this month, while weakened domestic demand will lower the output for domestic sales, according to the SMM survey.  

The output of hot-rolled coils and plates for domestic sales is expected to rise 1.4%, or 132,500 mt from the month before to 9.88 million in January, while that for export is likely to increase 23.3%, or 152,000 mt to 805,000 mt. 

HRC output to rise slightly in most regions in January, but to dip in a few regions due to adjustments of product structure  

North China: Planned output of hot-rolled coils and plates=5.5 million mt, +12,500 mt/0.23%; exports = 520,000 mt, +169,000 mt/48.15%

East China: Planned output of hot-rolled coils and plates=3.01 million mt, +236,000 mt/8.5%; exports = 285,000 mt, -17,000 mt/5.63%

South Central China: Planned output of hot-rolled coils and plates=1.88 million mt, +80,000 mt/4.44%; no exports

West China: Planned output of hot-rolled coils and plates=299,000 mt, -44,000 mt/12.83%; no exports

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