Ferrosilicon Daily Express 8.31

  • Monday, August 31, 2020
  • Source:ferro-alloys.com

  • Keywords:futures, spots, ferrosilicon
[Fellow]Crude steel output rose by 9.07 percent to reach 93.36 million tons in the period, with a daily output of 3.01 million tons.
[Ferro-Alloys.comChina's steel sector registered notable output growth in July as the country's economic recovery consolidates, industry data showed.

Crude steel output rose by 9.07 percent to reach 93.36 million tons in the period, with a daily output of 3.01 million tons, according to the China Iron and Steel Association (CISA).

Thanks to the implementation of supply-side reforms, the pattern of supply and demand in the steel sector in China has improved since 2016, with steel companies' operational and financial situations improving and the sector entering a new stage of development, a recently released report said.

The profitability and debt levels of most steel companies in China have improved significantly compared with the situation before the supply-side reforms, said a credit analysis of steel sector issuers released by S&P Global (China) Ratings. The report was based on a sample of 24 steel companies since the implementation of the supply-side reforms.

China Baowu Steel Group, the country's top steel-maker, said on Friday that it would take a controlling stake in Shanxi-based stainless steel giant Taiyuan Iron & Steel (Group) Co, also known as Tisco, in a move that would lead to further consolidation of the steel sector.

 
 
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  • [Editor:kangmingfei]

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