Morning Bites (part 1)

🔗CISA mills' daily crude steel production in mid-September was reported at 1.99mnt, +2.7% vs. the previous ten days, but -6.8% YoY. YTD output (through 20 September) was down 3.2% YoY. At the same time, local steel inventories rose 4.5% over the period (but inched down 0.7% YoY)

Although global steel market sentiment has been depressed in recent months, the new support package for China’s property sector might help bolster local construction activity in 4Q24-2025, we believe

China accounts for ~57% of global steel supply

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