Manufacturing capacity utilization (MCU), came in at 75.4% in June, flat month on month (m/m), up 0.3 percentage point year on year (y/y). Year to date (YTD), MCU has stayed in a very narrow range (75.3 to 75.7%), averaging 75.4%.

Worldsteel Association (WSA) reports that global crude steel production totaled 141,046 million tonnes (Mt) at a capacity utilization rate (CUR) of 73.0% in June. This was 4.843 Mt greater than June 2016 at a 3.6 percentage point higher CUR than last years’ 69.4%.

China Metals Weekly (CMW), July 19^th newsletter reported that prices were up across all product lines on a week on week (w/w), basis. Angles advanced 4.1% to $529 per ton, channels increased by 2.9% to $510. Beams rose 2.6% to $510.

Merchant licenses (YTD) through July 7th totaled 9,823 tons, down 86% from last month’s 70,456 tons. Year to date (YTD), there have been a total of 540,316 tons of Merchant license requests, down 2.9% from the 556,613 tons licensed YTD 2016.

Rebar licenses thus through July 7^th totaled just 21,112 tons, plummeting 92% month on month (m/m) from the April, May, June average of 158,993 tons. Year to date (YTD), there have been a total of 1,057,811 tons of rebar license requests, down 295,244 tons or 21.8% from YTD 2016.

Wire Rod licenses as of July 7^th totaled 15,618 tons, plummeting 92% month on month (m/m). In April, May and June licensed tons were 176,963, 219,981 and 194,093 tons respectfully.  On a year to date (YTD), y/y basis license volume was flat at 1,102,641 tons in 2017 vs.