China’s average daily crude steel production slowed in late-October, according to data released by China Iron and Steel Association (CISA). Average daily crude steel ouput rose to 2.156mn mt, up by 9.58pc from the prior-year period and up by just 0.77pc from mid-October.
Daily steel products’ output increased to 2.142mn mt, up by 9.41pc from the prior year, and up 3.19pc from mid-October. Pig iron production was at 1.887mn mt, up 7.65pc from the prior year.
Key steelmakers’ average daily production in October was 2.174mn mt of crude steel, 1.921mn mt of pig iron and 2.098mn mt of steel products in late-October period, as per CISA, which compiles production data from around 90 statistically significant steel producers across China. In October, China’s total crude steel production by key producers stood at 67.42mn mt, pig iron 59.58mn mt and steel products 65.04mn mt.
| China’s average daily output in late-Oct (mt) | ||||
|---|---|---|---|---|
| Production | Late-Oct | Mid-Oct | Change | Change (YoY) |
| Crude Steel | 21,56,553 | 21,73,279 | 0.77% | 9.58% |
| Pig iron | 18,87,865 | 19,27,813 | 2.07% | 7.65% |
| Steel | 21,42,827 | 20,76,564 | 3.19% | 9.41% |
Steel inventories at key producers in late-October stood at 12.147mn mt, down by 11.26pc or 1.541mn mt from mid-October and down by 5.9pc or 67,680mt from late-October. Inventories are up 27.44pc or 2.615mn mt from the start of the year.