China’s average daily crude steel production rose by 7.18pc in late-November to 2.105mn mt from a year ago and slipped slightly by 0.38pc from mid-November, according to data released by China Iron and Steel Association (CISA).
Daily steel products’ output increased to 2.135mn mt, up by 9.08pc from the prior year, and up 3.44pc from mid-November. Pig iron production was at 1.843mn mt, up 5.03pc from the prior year.
| China’s average daily output in late-Nov (mn mt) | ||||
|---|---|---|---|---|
| Production | Late-Nov | Mid-Nov | Change | Change (YoY) |
| Crude Steel | 2.105 | 2.113 | -0.38% | 7.18% |
| Pig iron | 1.843 | 1.868 | -1.34% | 5.03% |
| Steel | 2.135 | 2.064 | 3.44% | 9.08% |
Key steelmakers’ average daily production for the whole month of November was 2.119mn mt of crude steel, 1.870mn mt of pig iron and 2.069mn mt of steel products, up by 6.89pc; 5.70pc and 7.68pc, respectively from the prior period, as per CISA, which compiles production data from around 90 statistically significant steel producers across China.
In November, China’s total crude steel production by key producers stood at 63.58mn mt and steel products at 62.08mn mt, which is down by 5.70pc and 4.54pc from October, while up by 6.89pc and 7.68pc from the prior year.
Steel inventories at key producers in late-November stood at 11.37mn mt, down by 9.53pc or 1.197mn mt from mid-November and down by 6.39pc or 77,580mt from late-October. Inventories are down by 3.71pc or 438,400mt from the prior year.