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

Total steel inventories at China Iron and Steel Association (CISA)-affiliated mills decreased by 1.181 million tonnes (mnt) or 7.54% to 14.487 mnt in late-July 2023 compared with 15.668 mnt in mid-July 2023. Moreover, inventories declined by 2,93,100 tonnes (t) or 1.98% m-o-m as against 14.780 mnt in late-June 2023. Y-o-y, output was 2.109 mnt or 12.71% less than the same period of last year.

Production volumes

The average daily crude steel output of CISA-affiliated mills stood at 2.135 mnt in late-July 2023, down 4.98% from 2.447 mnt in mid-July 2023. Moreover, output went down by 4.94% m-o-m against 2.246 mnt in late-June 2023. However, output rose by 12.98% y-o-y against the same period last year.

The average daily finished steel output stood at 2.161 mnt, down 0.35% compared with 2.169 mnt in mid-July 2023. Meanwhile, production increased by 14.5% y-o-y from late-July 2022.

The average daily pig iron output stood at 1.923 mnt in late-July 2023, down by 7.68 against 2.084 mnt in mid-July 2023 and by 4.25% m-o-m, while output rose by 9.63% y-o-y.