China: Steel inventories at CISA mills decline in mid-July'23

Total steel inventories at China Iron and Steel Association (CISA)-affiliated mills decreased by 229,900 tonnes (t) or 1.45% to 15.668 million tonnes (mnt) in mid-July 2023 compared with early-July 2023. Moreover, inventories declined by 553,600 t or 3.41% m-o-m as against mid-June. However, it was 2.594 mnt or 19.84% more than in the same period of last year.

Production volumes

The average daily crude steel output of CISA-affiliated mills stood at 2.248 mnt in mid-July, up 0.33% from early-July. However, output went down by 0.6% m-o-m against mid-June. Output rose by 10.3% y-o-y against same period last year.

The average daily finished steel output stood at 2.169 mnt, up 3.34% compared with early-July. Meanwhile, production increased by 8.75% y-o-y from mid-July 2022.

The average daily pig iron output stood at 2.084 mnt in mid-July, down by 0.56% , while output rose by 5.62% y-o-y.