China: Steel inventory at CISA mills rises in early Oct'23

Total steel inventory at China Iron and Steel Association (CISA)-affiliated mills rose by 1.11 million tonnes (mntt), or 7.31%, to 16.361 million tonnes (mnt) in early October 2023 compared with 15.247 mnt in late September. Moreover, inventories increased by 557,700 tonnes (t), or 3.53%, m-o-m as against 15.803 mnt in early September. In addition, inventory inched up by 0.27% y-o-y.

Production volumes

The average daily crude steel output of CISA-affiliated mills stood at 2.083 mnt in early October, up 0.81% from 2.066 mnt in late September. Output went down by 3.5% m-o-m against 2.159 mnt in early September. Moreover, output edged down by 1.17% y-o-y.

The average daily finished steel output stood at 2.03 mnt, down 8.37% from 2.27 mnt in late September. Meanwhile, production inched up by 0.66% y-o-y.

The average daily pig iron output stood at 1.925 mnt in early October, up 1.84% from 1.890 mnt in late September and 0.7% y-o-y.