China’s daily steel production increased by 6.7pc in early-September from the prior year period, but slowed by 1pc from late-August. Key Chinese steelmakers produced 21.365mn mt tons of crude steel, 19.993mn mt of steel and 18.966mn mt of pig iron in early-September, according to China Iron and Steel Association (CISA) data.
Steel products output of key steelmaker in early-September rose by 6.5pc from the prior year period, but fell by 8.86pc from late-August. Pig iron output rose by 4.82pc from the prior year period and dropped by 1.54pc from late-August. CISA compiles production data from around a hundred statistically significant steel producers across China.
| China’s average daily output in Early-Sep | ||||
|---|---|---|---|---|
| Production | Early-Sep | Late-Aug | Change | Change (YoY) |
| Crude Steel | 21,36,560 | 21,60,200 | -1.09% | 6.73% |
| Pig iron | 18,96,157 | 19,25,900 | -1.54% | 4.82% |
| Steel | 19,99,301 | 21,93,600 | -8.86% | 6.50% |
China produced 29.612mn mt of crude steel in the first 10 days of September, with daily output rate up by 6.4pc from the prior year period, according to CISA estimates. Production of steel products was 37.078mn mt, with daily output rate up by 12.33pc from the prior year period, while pig iron production increased 7.68pc to 24.96mn mt during the period.
Steel products inventories at key producers in early-September stood at 13.269mn mt, up by 7.27pc or 899,400mt from late-August and up 39.20pc from the start of the year.
In August, China’s average daily crude steel output stood at 3.059mn mt, which is a new high. Average daily output of pig iron was 2.533mn mt and steel 3.842mn mt in A.
In August 2020, my country’s pig iron output was 78.55 million tons, a year-on-year increase of 5%, and the output from January to August was 589.4 million tons, a year-on-year increase of 3.4%.