China’s daily crude steel output in early-October rose by 14.9pc to 2.170mn mt from the prior year period, but fell by 0.84pc from late-September, according to CISA data. Steel products output in early-October increased by 14.5pc to 2.036mn mt from the prior-year period, but fell by 8pc from late-September. Pig iron output rose by 12.3pc from the prior year period and dropped by 1pc from late-September.
| China’s average daily output in Early-Oct (mt) | ||||
|---|---|---|---|---|
| Production | Early-Oct | Last-Sep | Change | Change (YoY) |
| Crude Steel | 21,70,325 | 21,88,697 | -0.84% | 14.90% |
| Pig iron | 19,22,450 | 19,01,899 | 1.08% | 12.31% |
| Steel | 20,36,831 | 22,15,235 | -8.05% | 14.51% |
Key steelmakers produced 21.703mn mt of crude steel, 19.224mn mt of pig iron and 20.368mn mt of steel products in early- October period, as per CISA, which compiles production data from around a hundred statistically significant steel producers across China.
China produced 30.71mn mt of crude steel in the first week of October, up 19.99pc from the prior-year period, according to CISA estimates. Production of steel products was 37.41mn mt, a growth of 20.28pc from the prior year period, while pig iron production increased 18.2pc to 25.23mn mt during the week.
Steel products inventories at key producers in early-October stood at 13.59mn mt, up by 17.2pc or 1.997mn mt from late-September and up 42.60pc or 4.06mn mt from the start of the year.