China’s average daily steel production rose by 5.87pc in mid-November from the prior-year period, but down by 1.53pc from early- November. Steel products’ output of key steelmakers grew by 7.79pc in mid-November from the prior-year period and 2.51pc from early-November.
| China’s average daily output in mid-Nov (mt) | ||||
|---|---|---|---|---|
| Production | Mid-Nov | Early-Nov | Change | Change (YoY) |
| Crude Steel | 21,13,405 | 21,46,141 | -1.53% | 5.87% |
| Pig iron | 18,68,688 | 19,07,749 | -2.05% | 3.94% |
| Steel | 20,64,708 | 20,14,174 | 2.51% | 7.79% |
Key Chinese steelmakers produced 21.134mn mt of crude steel, 20.647mn mt of steel and 18.686mn mt of pig iron in mid-November, according to China Iron and Steel Association (CISA) data. Pig iron output rose by 3.94pc from the prior-year period, but dropped by 2.05pc from early- November. CISA compiles production data from around a hundred statistically significant steel producers across China.
Cumulative production of China’s key steelmaker till mid-November was 42.595mn mt of crude steel, with daily output rate down by 6.93pc from the prior year period, according to CISA estimates. Output of steel products was 40.788mn mt, with daily output rate up by 7.10pc from the prior year period, while Pig iron production increased 6.25pc to 37.764mn mt during the period.
Steel products inventories at key producers in mid-November stood at 12.569mn mt, up by 277,500mt or 2.16pc from early-November and an increase of 3.85pc from the prior-year period.