China: Steel inventories at CISA-affiliated mills decline in mid-April'24

The China Iron and Steel Association (CISA) reported total steel inventory of key enterprises in mid-April 2024 stood at 18.116 million tonnes (mnt), a decline of 137,700 tonnes (t) mnt or 0.75% compared to 18.253 mnt in early-April. Moreover, inventory dropped by 1.418 mnt or 7.26% m-o-m compared with 19.533 mnt in mid-March and was also down by 2.29% y-o-y or by 425,000 t compared to 18.540 mnt in mid-April 2023.

Production volumes

The average daily crude steel output of CISA-affiliated mills stood at 2.119 mnt in mid-April, edged up by 0.33% from 2.111 mnt in early-April. Whereas, output rose by 3.5% m-o-m against 2.048 mnt in mid-March. However, output saw a decline of 7.47% y-o-y against 2.28 mnt in mid-April 2023.

The average daily finished steel output stood at 2.049 mnt in mid-April, increased by 3.72% from 1.975 mnt in early-April this year. However, production decreased by 6.85% y-o-y.

The average daily pig iron output stood at 1.896 mnt in mid-April, edged down by 0.55% m-o-m from 1.906 mnt in early-April. Moreover, production declined by 6.18% y-o-y.