Morning Bites (part 2)

🔗CISA mills daily crude steel production during late December was reported at 1.67mnt, down 13.6% vs. the previous ten days, and 13.0% lower YoY, marking the 11th consecutive 10-day period of YoY declines. Meanwhile, local steel inventories fell 17.7% over the period (-5.3% YoY). Per CISA data, during 2023, China's production increased 1.4% YoY, as the country's government prioritised economic growth over emission cuts. Meanwhile, efforts to bolster domestic construction could add support to steel products prices in 2024, in addition to the overall declining steel output, we believe

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https://metals-wire.com/sector/Steel