China: Steel inventories at CISA member mills edge up in mid-Mar'24

The China Iron and Steel Association (CISA) reported total steel inventory of key enterprises in mid-March 2024 at 19.533 million tonnes (mnt), an increase of just 9,700 tonnes (t) or 0.05% compared to 19.523 mnt in early-March. Moreover, inventory went up by 554,700 t or 2.92% m-o-m compared with 18.978 mnt in mid-February. and also rose by 3.04% y-o-y or 576,200 t compared to 18.95 mnt in mid-March 2023.

Production volumes

The average daily crude steel output of CISA-affiliated mills stood at 2.048 mnt in mid-March, a decrease of 0.51% from 2.058 mnt in early-March. Also, output inched down by 0.6% m-o-m against 2.1 mnt in mid-February. In addition, output saw a decline of 9.12% y-o-y against 2.25 mnt in mid-March 2023.

The average daily finished steel output stood at 1.965 mnt in mid-March, up by 1.95% from 1.927 mnt in early-March this year. However, production decreased by 8.05% y-o-y.

The average daily pig iron output stood at 1.836 mnt in mid-March, down 0.41% m-o-m from 1.843 mnt in early-March. Moreover, production declined by 6.56% y-o-y.