Morning Bites (part 2)

🔗CISA mills' daily crude steel production during early July was 2.24mnt, a 0.3% drop from the previous ten days (+8.0% YoY). At the same time, local steel inventories rose 7.6% (-11.9% YoY). Output has seen the third consecutive YoY growth, following a series of 5 declines. Despite higher output on an annual basis, we remind our readers of Beijing’s intention not to exceed the 2022 production level. Furthermore, massive infrustracture projects, as well as potentially more stimulus for China’s property sector, might bolster the steel demand later this year

#steel 
https://metals-wire.com:3000/sector/Steel