China’s average daily crude steel production in late-August (Aug 21-31) rose to 2.160mn mt, up by 7.16pc from the prior-year period, but dipped marginally by 0.04pc from mid-August, according to China Iron and Steel Association (CISA) data. Daily steel products’ output increased to 2.193mn mt, up by 10.04pc from the prior year, and up 6.08pc from mid-August. Pig iron production was at1.925mn mt, up 6.2pc from the prior year.
| China’s average daily output in Late-August | ||||
|---|---|---|---|---|
| Production | Late-Aug | Mid-Aug | Change | Change (YoY) |
| Crude Steel | 2,160,200 | 2,161,020 | -0.04% | 7.16% |
| Pig iron | 1,925,900 | 1,906,297 | 1.03% | 6.20% |
| Steel | 2,193,600 | 2,067,855 | 6.08% | 10.04% |
Key steelmakers produced 23.76mn mt of crude steel, 21.18mn mt of pig iron and 24.12mn mt of steel products in late-August period, as per CISA, which compiles production data from around 90 statistically significant steel producers across China. In August, China’s total crude steel production by key producers stood at 66.59mn mt, pig iron 59.42mn mt and steel products 64.79mn mt.
In total, China produced 32,75mn mt of crude steel in late-August, up 6.5pc from the prior-year period, according to CISA estimates. Steel products output is forecast at 42.39mn, up 13.4pc from the prior period.
China’s cumulative average daily production in August rose by 7.35pc from the prior August, while steel products output grew by 9.18pc and pig iron production rose by 11.76pc.
Steel products inventories at key producers in late-August stood at 12.369mn mt, down by 9.88pc or 1,355,500 mt from mid-August, but up 29.76pc from the start of the year.