China’s average daily crude steel production in early-January rose to 2.195mn mt, up by 11.5pc from the prior year, an increase of 1.5pc from late-December, according to data released by China Iron and Steel Association (CISA), which compiles production data from around 90 statistically significant steel producers across China.
Daily steel products’ output of key steelmakers increased to 2.051mn mt, up by 11.9pc from the prior year and up by 8.3pc from late-December. Pig iron production was at 1.943mn mt, up 9.79pc from the prior year. Steel output increased despite cold wave weather conditions and production cuts to control air-pollution in major steelmaking cities and provinces.
| China’s average daily output in early-Jan (mn mt) | ||||
|---|---|---|---|---|
| Production | Early-Jan | Late-Dec | Change | Change (YoY) |
| Crude Steel | 2.195 | 2.162 | 1.51% | 11.58% |
| Pig iron | 1.943 | 1.889 | 2.84% | 9.79% |
| Steel | 2.051 | 2.237 | 8.31% | 11.94% |
Production in December
China produced 91.25mn mt crude steel in December, which is up 7.75pc from the prior year. The average daily production of crude steel rose to 2.943mt, up by 0.74pc from November. While for the full year crude steel production rose to 1.053bn mt, up by 5.16pc from a year ago.
In December, key statistical iron and steel enterprises produced 73.442mm mt of crude steel, up by 10.97pc from a year ago. Production of steel products was 71.481mn mt, up by 12.72pc from the prior year.
Inventories
Steel inventories at key producers in early-January stood at 13.027mn mt, an increase of 12.10pc or 1.405mn mt from late-December. Inventories are up by 24.04pc or 2.524mn mt from a year ago.