API 5L X60 PSL1 steel production increased slightly

In October, driven by the rebound of market demand, API 5L X60 PSL1 steel and so on steel production increased. However, due to the large amount of steel inventory, Tangshan and other places' environmental protection and production restriction policy became stricter. Although API 5L X60 PSL1 steel and so on steel production increased steadily, the increase was small. The production index was 47.1%, up 1.1 percentage points month on month. According to the statistics of China Iron and Steel Association, in mid October, the average daily output of crude steel of iron and steel enterprises was 2.173 million tons, with a month on month increase of 0.14% and a year-on-year increase of 11.24%; pig iron was 1.9278 million tons, with a month on month increase of 0.28% and a year-on-year increase of 10.56%; steel products reached 2.0766 million tons, with a month on month increase of 1.95% and a year-on-year increase of 10.21%.

The rise in API 5L X60 PSL1 steel and so on steel production led to an increase in raw material procurement, with the purchase volume index of 49.3% this month, up 6.2% month on month. The raw material inventory index was 40.5%, with a slight decrease of 0.4% month on month.