Morning Bites (part 1)
📉CISA mills daily crude steel output fell 2% in mid-October from the first ten days of the month. However, this represented a 10% YoY increase. According to Metal Expert, the WoW reduction in steel output might have been partially caused by the sluggish demand from the construction sector. The weaker demand was reflected in the 9% increase in steel inventories through the period. As of 20 October, steel inventories were up 38% YoY. We maintain our negative view on China’s steel production amid the subdued demand
#steel
https://metals-wire.com:3000/sector/Steel
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