OREANDA-NEWS. July 05, 2012. The CISA forecast the national steel output to fall by 1.45 percent to 1.97 million tons on a daily basis during June 10-20. The utilization rate of 150 blast furnaces operated in Tangshan was below 92 percent.

Steel inventories by key medium and large steelmakers rose by 5.6 percent to 12.15 million tons. Distributor stocks in 26 cities just fallen by 11,000 tons over the past week. There were reports of increases in the stocks of hot rolled coil, medium pate and wire rod.

Chinaбпs PMI slipped to a 7-month low of 48.1 in June due to weakening demand. Rising costs and lower steel prices added to the operating pressure of the steel sector.