China: Steel inventory at CISA mills falls in mid-Sep'23

Total steel inventory at China Iron and Steel Association (CISA)-affiliated mills decreased by 46,500 tonnes (t), or 0.29%, to 15.757 million tonnes (mnt) in mid-September 2023 compared with 15.803 mnt in early-September 2023. However, inventories fell by 873,400 t, or 5.25%, m-o-m as against 16.630 mnt in mid-August. Moreover, inventory declined by 1.904 mnt, or 10.78% y-o-y, from the same period last year.

Production volumes

The average daily crude steel output of CISA-affiliated mills stood at 2.133 mnt in mid-September, down by 1.17% from 2.159 mnt in early-September. Output fell by 3.70% m-o-m against 2.215 mnt in mid-August. Moreover, output decreased by 0.54% y-o-y against the same period last year.

The average daily finished steel output stood at 2.106 mnt, up 2.94% from 2.046 mnt in early-September. Meanwhile, production increased by 0.39% y-o-y.

The average daily pig iron output stood at 1.954 mnt in mid-September down by 1.47% m-o-m and fell by 0.66% y-o-y.