China: Steel inventories at CISA mills increase in early Aug'23

Total steel inventories at China Iron and Steel Association (CISA)-affiliated mills increased by 1.564 million tonnes (mnt), or 10.8%, to 16.051 mnt in early-August 2023 compared with 14.487 mnt in late-July. Moreover, inventories rose by 1,53,430 tonnes (t), or 0.96% m-o-m, as against 15.893 mnt in early-July. Inventory decreased by 998,600 t, or 5.86%, from the same period last year.

Production volumes

The average daily crude steel output of CISA-affiliated mills stood at 2.152 mnt in early-August, up 0.80% from 2.135 mnt in late-July. Moreover, output edged down by 3.93% m-o-m against 2.240 mnt in early-July. However, output rose by 10.78% y-o-y against the same period last year.

The average daily finished steel output stood at 2.043 mnt, down 5.45% m-o-m. Meanwhile, production increased by 5.21% y-o-y.

The average daily pig iron output stood at 1.976 mnt in early-August, up by 2.74% from late-July and 10.42% m-o-m.