China’s average daily crude steel production in mid-July (July 11-20) rose to 2.138mn mt, up by 5.99pc from the prior-year period, production fell by 0.36pc from early-July, according to China Iron and Steel Association (CISA) data. Steel products output increased to 2.039mn mt, up by 6.88pc from the prior year, and up 3pc from early-July. Pig iron production dropped to 1.909mn mt, up 6.29pc from the prior year, but down by 0.42pc from early-July.
|China’s average daily output in mid July|
Key steelmakers produced 21.38mn mt of crude steel, 19.09mn mt of pig iron and 20.39mn mt of steel products in mid-July period, as per CISA, which compiles production data from 93 statistically significant steel producers across China. In July (July 1 to 20), total crude steel production stood at 43.17mn 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.
Steel products inventories at key producers in mid-July was 14.38mn mt, up by 765,900mt from early-July and up 4.84mn mt compared to the start of the year.
CISA estimates China produced crude steel 29.81mn mt crude in mid-July, which is up 4.82pc from the prior year period and steel products output was 36.73mn mt, up by 6.74pc.