Utilisation rate at steel blast furnaces across China fell for a third consecutive week last week as of June 8, data showed, as environmental inspections continued to weigh on operation at steel mills.
The rate slipped 0.41 percentage points to 71.41% from the prior week, data showed.
The Ministry of Ecology and Environment said it will expand environmental inspections to more cities and regions in a new round of checks from this month to April next year.
Jiangsu Shagang Group, China's biggest private-owned steel firm by production capacity, said on June 11 it will hike spot prices for rebar by 30 yuan/t and some wire products by 50 yuan/t for June 11-20.
Shanghai benchmark rebar prices closed nearly flat at 3,803 yuan/t ($594.09/t) on June 11 after recovering from the day's low of 3,755 yuan/t.
Iron ore contract for September delivery rose 0.6% to 470 yuan/t.
(Writing by Tammy Yang Editing by Jessie Jia)
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