China: Steel inventories at CISA-affiliated mills fall in early-April'24

The China Iron and Steel Association (CISA) reported total steel inventory of key enterprises in early-April 2024 stood at 18.253 million tonnes (mnt), a decline of 173,600 tonnes (t) mnt or 0.94% compared to 18.427 mnt in late-March. Moreover, inventory went down by 1.2702 mnt or 6.51% m-o-m compared with 19.523 mnt in early-March and was also edged down by 0.36% y-o-y or by 66,200 t compared to 18.320 mnt in early-April 2023.

Production volumes

The average daily crude steel output of CISA-affiliated mills stood at 2.111 mnt in early-April, edged down by 0.47% from 2.121 mnt in late-March. Whereas, output rose by 2.6% m-o-m against 2.058 mnt in late-March. In addition, output saw a decline of 9.01% y-o-y against 2.320 mnt in early-April 2023.

The average daily finished steel output stood at 1.975 mnt in early-April, declined by 6.72% from 2.117 mnt in late-March this year. However, production decreased by 9.35% y-o-y.

The average daily pig iron output stood at 1.906 mnt in early-April, increased by 2.16% m-o-m from 1.866 mnt in late-March. However, production declined by 6.68% y-o-y.