China: Steel inventory of CISA mills declines in late-Apr'23

Steel inventory of China Iron and Steel Association (CISA)-affiliated mills declined in late-April 2023 as compared to mid-April 2023.

• Mills' inventory stood at 18.11 million tonnes (mnt), down by 430,800 t or 2.32% compared to mid-April.
  
  
• Inventory increased by 856,900 t or 4.97% m-o-m compared to late-March.
  
  
• Inventory increased by 21,600 t or 0.12% compared to the year-ago period.
  
  

Crude steel output drops

• The average daily crude steel output of CISA-affiliated mills stood at 2.21 mnt in late-April, down 3.63% compared to late-March.
  
  
• The average daily finished steel output stood at 2.27 mnt in the period under review, up 3.01% from late-March. However, the same declined by 1.23% y-o-y.
  
  
• The average daily pig iron output stood at 2.03 mnt in late-April, up by 0.41% m-o-m and down by 0.59% y-o-y.