China: Steel inventories at key CISA mills down 17.2% in late-Apr’26

• China steel inventories decline sharply ahead of May Day
• Crude steel output falls, finished steel production rises

The China Iron and Steel Association (CISA) announced that total steel inventories at key Chinese industries totalled at around 15.43 million tonnes (mnt) in late-April (21-30 April), dropped by 3.2 mnt or 17.2% compared with 18.63 mnt in mid-April 2026.

On a m-o-m basis, the inventory level decreased by 1.12 mnt or 6.8% m-o-m from 16.55 mnt in late-March, and on yearly basis marked a marginal up of 140,000 tonnes (t) or 0.9% y-o-y from the same period last year.

Before the May Day holiday, market participants avoided fresh stocking and supplied material only based on demand, which resulted in lower inventory levels in the market.

Production volumes

The average daily crude steel production of CISA affiliated industries stood at around 2.036 mnt in late-April, down by 3.6% from 2.111 mnt in mid-April. Additionally, output dropped by 7.5% y-o-y from 2.20 mnt in late-April 2025.

Average daily finished steel output stood at 2.155 mnt in late-April, increased by 7.1% from 2.015 mnt in mid-April, however, dropped by 5.2% y-o-y.

Average daily pig iron output stood at around 1.85 mnt in late-April, down by 2.5% from 1.898 mnt in mid-April, on a yearly basis output down by 5.6% y-o-y.