China’s average daily crude steel production in mid-August rose to 2.161mn mt, up by 5.15pc from the prior-year period, while up by 0.35pc from early-August, according to China Iron and Steel Association (CISA) data. Daily steel products output increased to 2.067mn mt, up by 5.56pc from the prior year, and up 3.45pc from early-August. Pig iron production fell to 1.906mn mt, up 4.7pc from the prior year, but down by 0.56pc from early-August.
| China’s average daily output in mid-August | ||||
|---|---|---|---|---|
| Production | Mid-Aug | Early-Aug | Change | Change (YoY) |
| Crude Steel | 21,61,020 | 21,53,448 | 0.35% | 5.15% |
| Pig iron | 19,06,297 | 19,17,042 | -0.56% | 4.70% |
| Steel | 20,67,855 | 19,98,977 | 3.45% | 5.56% |
Key steelmakers produced 21.61mn mt of crude steel, 19.06mn mt of pig iron and 20.67mn mt of steel products in mid-August period, as per CISA, which compiles production data from around 90 statistically significant steel producers across China. In August, China’s total crude steel production by key producers stood at 43.13mn mt, pig iron 38.23mn mt and steel products 40.66mn mt.
In total, China produced 29.81mn mt of crude steel in mid-August, up 5.34pc from the prior-year period, according to CISA estimates.
China’s cumulative average daily production in August rose by 5.13pc from the prior July, while steel products output grew by 10.93pc and pig iron production rose by 8.67pc.
Steel products inventories at key producers in mid-August stood at 13.725mn mt, down by 1.91pc or 266,600mn mt from mid-July, but up 43.98pc from the start of the year.