China’s average daily crude steel production in late-July (July 21-31) rose to 2.172mn mt, up by 11.65pc from the prior-year period, while up by 1.59pc from mid-July, according to China Iron and Steel Association (CISA) data. Daily steel products output increased to 2.179mn mt, up by 10.78pc from the prior year, and up 6.8pc from mid-July. Pig iron production fell to 1.929mn mt, up 12.94pc from the prior year, but down by 1.07pc from mid-July.
|China’s average daily output in late-July|
Key steelmakers produced 23.89mn mt of crude steel, 21.22mn mt of pig iron and 23.97mn mt of steel products in late-July period, as per CISA, which compiles production data from 93 statistically significant steel producers across China. In July, China’s total crude steel production by key producers stood at 66.61mn mt, pig iron 38.65mn mt and steel products 40.78mn mt, with daily output up by 7.09pc, 8.04pc and 7.80pc, respectively from the prior year period.
China produced 33.04mn mt of crude steel in the last week of July, up 8.73pc from the prior year period, according to CISA estimates. Production of steel products was 40.92mn mt, a growth of 10.01pc from the prior year period, while pig iron production increased 13.77pc to 27.82mn mt during the week.
China’s cumulative average daily production in July rose by 8.33pc from the prior July, while steel products output grew by 11.06pc and pig iron production rose by 10.75pc.
Steel products inventories at key producers in late-July stood at 13.13mn mt, down by 8.6pc or 1.25mn mt from mid-July and down by 3.5pc or 490,000mt from June-end, but up 37.7pc from the start of the year.