Moving tonight’s post re: production curbs from shipments thread to main IO thread..
.......................
Even with snap restrictions being imposed on a regular basis in Tangshan, I don’t believe downstream demand is going to just pull back the reins in line with Tangshan.
Tangshan produce about 11% of China’s steel. You’d probably find that capacity utilisation will become higher in the South to compensate for lower in Tangshan. Steel inventories being as low as they are (yesterday’s article that I posted showed steel inventories at a 9 month low, posted again below) is sufficient enough evidence that even though production has come off a bit in the last month, steel inventories are being drawn down at a pretty rapid rate to meet downstream demand.
Steel inventories are at a 9 month low and have dropped from 12.8mt to 9.4mt at the surveyed mills in 3 months (just over 25% drop)
At one point I’ll try to chart IO at mills, steel stocks, port stocks, output levels and shipments to China in the one chart as looking at these important 5 variables as a whole give a reasonable indication of how the market is faring and likely to fare in the near term. Maybe a project for another time
Cheers
https://www.mysteel.net/article/501...-steel-stocks-dip-again-on-steady-demand.html
https://www.mysteel.net/article/5009198/WEEKLY--Chinas-steel-stocks-up-for-8th-straight-week.html
- Forums
- ASX - By Stock
- Iron ore price
Moving tonight’s post re: production curbs from shipments thread...
-
- There are more pages in this discussion • 36,847 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FMG (ASX) to my watchlist
|
|||||
Last
$18.06 |
Change
-0.270(1.47%) |
Mkt cap ! $56.09B |
Open | High | Low | Value | Volume |
$18.10 | $18.28 | $18.03 | $203.4M | 11.19M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 1725 | $18.05 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$18.06 | 7613 | 21 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
13 | 4360 | 18.060 |
24 | 23458 | 18.050 |
8 | 11200 | 18.040 |
12 | 17124 | 18.030 |
11 | 16004 | 18.020 |
Price($) | Vol. | No. |
---|---|---|
18.070 | 4166 | 18 |
18.080 | 14828 | 35 |
18.090 | 12179 | 28 |
18.100 | 7833 | 11 |
18.110 | 9097 | 12 |
Last trade - 15.50pm 23/08/2024 (20 minute delay) ? |
Featured News
FMG (ASX) Chart |
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online