China’s cumulative average daily crude steel production in June rose to 2.13mn mt, up by 4.03pc from June 2019. Pig iron production increased to 1.90mn mt, up by 5.32pc from the prior June and steel products increased to 2.06mn mt, up by 5.18pc, according to official data reported by China Iron and Steel Association (CISA). Average daily production of crude steel in June rose by 2.74pc from May, pig iron production increased by 2.17pc, while steel products rose by 3.64 from a month ago.
|China’s average daily output in June|
|Production (mn mt)||June||% Change MoM||% Change YoY|
Key steelmakers in China produced 21.4mn mt of crude steel, 19.15mn tons of pig iron, 21.31mn mt of steel products in late June (last 10 days). CISA compiles the production data from 93 key steel producers across the country. Cumulative production by these key producers in June was 63.89mn mt of crude steel; pig iron 57.02mn mt and steel products 61.84mn mt.
In late June, steel products inventories at key producers were 13.61mn mt, down by 6.87 from mid-June and up by 2.78pc from May-end period.
CISA estimates China’s total average daily crude steel output at 2.98mn mt in the late-June, which is up 6.34pc from the prior-year period and up 0.01pc from mid-June.