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Print[Ferro-Alloys.com] In the week ending on February 22, 2020, domestic raw steel production was 1,901,000 net tons while the capability utilization rate was 81.5 percent. Production was 1,917,000 net tons in the week ending February 22, 2019 while the capability utilization then was 82.4 percent. The current week production represents a 0.8 percent decrease from the same period in the previous year. Production for the week ending February 22, 2020 is down 0.3 percent from the previous week ending February 15, 2020 when production was 1,907,000 net tons and the rate of capability utilization was 81.8 percent.
According to market sources, Italy's steelmakers have not yet made any production cuts due to the virus and steel shipments have not been impacted.
"We are still producing with no problems, but the overall demand picture is not brilliant and there is the uncertainty that if any single employee is confirmed to be infected with the virus, then authorities could shut down a mill very quickly under quarantine," a source explained.
While Turkish hot-rolled coil producers maintained strong prices amid higher raw material costs and low demand, mills raised cold-rolled coil and hot-dip galvanized sheet steel offer prices this week, sources told S&P Global Platts.
"Japan's construction demand has slowed after completion of Olympic infrastructure," a Japanese trader said.
"(Steel) Exports too for the country is weaker. We just have to wait and see how this virus issue plays out, it's just adding another downward pressure for mills."
Click here for more information: Ferrosilicon Daily Express 2.27
- [Editor:kangmingfei]
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