China’s daily average crude steel production rose by 7.99pc to 2.146mn mt in early-November from the prior-year period and fell by 0.48pc from late-October, according to China Iron and Steel Association (CISA) data. Steel products output of key steelmaker indicated a de-growth in early-November with a 6.41pc fall to 2.014mn mt from the prior-year period and a 6pc dip from late-October.
|China’s average daily output in Early-Nov (mt)|
In the first 10-days of November key Chinese steelmakers produced 21.461mn mt of crude steel, 20.141mn mt of steel and 19.077mn mt of pig iron. Pig iron output rose by 8.62pc from the prior-year period and by 1.05pc from late- October. CISA compiles production data from around a hundred statistically significant steel producers across China.
CISA estimates total steel production in China during early-November at 30.049mn mt up 13.6pc from the prior year period and up by 0.3pc from late-October. Production of steel products was 37.22mn mt, with daily output up by 14.64pc from the prior year period and up 2.51pc from late-October.
Steel products inventories at key producers in mid-September stood at 12.84mn mt, up by 69,950mt or 5.76 from late-October.