China: Steel inventory of CISA-affiliated mills rises in mid Feb’23

China’s steel inventory and average daily crude steel production of China Iron and Steel Industry Association-(CISA) affiliated mills continued to rise in mid-February 2023.

Steel inventory:

• Steel inventory at CISA mills stood at 19.53 mnt in mid-February. The volume increased by 1.50 mnt or  8.32% over 18.02 mnt in early-February.
• Inventory increased by 3.46 mnt or 21.54% compared to mid-January 2023.
• Inventory increased by 2.62 mnt or 15.54% compared to the year-ago period.

Crude steel output:

• The average daily crude steel output of CISA-affiliated mills stood at 2.09 mnt in mid-February, up 1.49% from early-February.
• The average daily finished steel output stood at 2.05 mnt in the period under review, up 6.24% over early-February. The same grew by 13.5% y-o-y.
• The average daily pig iron output stood at 1.89 mnt in mid-February, inched up by 0.28% m-o-m and 12.6% y-o-y.