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

Total steel inventory at China Iron and Steel Association (CISA)-affiliated mills increased by 94,000 tonnes (t) or 0.59% to 15.893 million tonnes (mnt) in early-July 2023 compared with early-June. Inventory increased by 1.118 mnt or 7.56% as against late-June. However, it was 2.1495 mnt or 11.91% less than in the same period of last year.

Production volumes

• The average daily crude steel output of CISA-affiliated mills stood at 2.240 mnt in early-July, up 7.98% from early-June. However, output inched down by 0.25 % from late-June.
  
  
• The average daily finished steel output stood at 2.099 mnt, up 6.39% compared with early-June. Meanwhile, production decreased by 8.99% from late-June.
  
  
• The average daily pig iron output stood at 2.019 mnt in early-July, down by 0.45% m-o-m, while output rose by 5.44% y-o-y.