China: Steel inventory at CISA mills rises in mid-June'23

Total steel inventory of China Iron and Steel Association (CISA)-affiliated mills rose by 0.42 million tonnes (mnt) or 2.64% to 16.22 mnt in mid-June'23 compared with early-June.

Inventory decreased by 42,600 tonnes (t) or 0.26% as against mid-May. Meanwhile, inventory fell by 4.30 mnt or 20.96% y-o-y.

Crude steel production

The average daily crude steel output of CISA-affiliated mills stood at 2.26 mnt in mid-June, up 1.42% from early-June. Output increased by 0.21% y-o-y.

The average daily finished steel output stood at 2.17 mnt, up 5.04% m-o-m. However, production fell by 1.68% y-o-y.

The average daily pig iron output stood at 2.02 mnt in mid-June, up 0.73% compared with mid-May but down by 0.55% y-o-y.