China: Steel inventories at CISA mills decrease in late-Aug'23

Total steel inventories at China Iron and Steel Association (CISA)-affiliated mills decreased by 1.906 million tonnes (mnt), or 11.46%, to 14.725 mnt in late-August 2023 compared with 16.630 mnt in mid-August. Moreover, inventories rose by 2,37,400 tonnes (t), or 1.64%, m-o-m as against 14.487 mnt in late-July. However, inventory declined by 1.219 mnt, or 7.64%, from the same period last year.

Production volumes

The average daily crude steel output of CISA-affiliated mills stood at 2.046 mnt in late-August, down by 7.65% from 2.215 mnt in mid-August. Also, output declined by 4.17% m-o-m against 2.135 mnt in late-July. On the other hand, output rose by 0.68% y-o-y against the same period last year.

The average daily finished steel output stood at 2.193 mnt, up 1.75% from 2.135 mnt in early-August. Meanwhile, production increased by 8.21% y-o-y.

The average daily pig iron output stood at 1.876 mnt in mid-August, down by 6.05% from 1.976 in early-August and up by 0.30% y-o-y.