China’s average daily crude steel production rose by 12pc in early-Dec to 2.205mn mt from a year ago and increased by 4.6pc from late-November, according to data released by China Iron and Steel Association (CISA), which compiles production data from around 90 statistically significant steel producers across China.
Daily steel products’ output increased to 2.094mn mt, up by 12.67pc from the prior year, but down by 1.93pc from late-November. Pig iron production was at 1.950mn mt, up 10.94pc from the prior year.
| China’s average daily output in early-Dec (mn mt) | ||||
|---|---|---|---|---|
| Production | Early-Dec | Late-Nov | Change | Change (YoY) |
| Crude Steel | 2.202 | 2.105 | 4.60% | 11.96% |
| Pig iron | 1.950 | 1.843 | 5.77% | 10.94% |
| Steel | 2.094 | 2.135 | -1.93% | 12.67% |
Steel production increased despite production cuts to control air-pollution in major steelmaking cities and provinces. China produced 87.66mn mt crude steel in November, which is up 8pc from the prior year.
Steel inventories at key producers in early-December stood at 12.67mn mt, an increase of 11.5pc or 1.130mn mt from late-November Inventories are up by 33pc or 3.14mn mt from the beginning of the year.