China’s daily steel production slowed to rise only by 0.76pc in mid-September from the prior-year period and up by 0.42pc from early-September. Steel products output of key steelmaker indicated a de-growth in mid-September with a 3.44pc fall from the prior-year period, but down by 2.30pc from early-September.
Key Chinese steelmakers produced 21.455mn mt of crude steel, 20.452mn mt of steel and 18.955mn mt of pig iron in mid-September, according to China Iron and Steel Association (CISA) data.
Pig iron output fell by 1.53pc from the prior-year period and by 0.03pc from early-September. CISA compiles production data from around a hundred statistically significant steel producers across China.
| China’s average daily output in Mid-Sep (mt) | ||||
|---|---|---|---|---|
| Production | Mid-Sep | Early-Sep | Change | Change (YoY) |
| Crude Steel | 2,145,590 | 2,136,560 | 0.42% | 0.76% |
| Pig iron | 1,895,589 | 1,896,157 | -0.03% | -1.53% |
| Steel | 2,045,217 | 1,999,301 | 2.30% | -3.44% |
Cumulative production of China’s key steelmakers till mid-September was 42.641mn mt of crude steel, with daily output rate up by 2.42pc from the prior year period, according to CISA estimates. Production of steel products was 40.368mn mt, with daily output rate up by 3.9pc from the prior year period, while pig iron production increased 0.9pc to 37.75mn mt during the period.
Steel products inventories at key producers in mid-September stood at 13.404mn mt, up by 135,900mt or 1.02 from early-September.