China: Steel inventories at CISA mills decrease in late-Jun’25

• Daily crude steel output drops 0.9% from mid-Jun
• Daily finished output increases 6.4% from mid-Jun

The China Iron and Steel Association (CISA) has announced that the total steel inventory at key Chinese enterprises in late-June 2025 stood at 15.45 million tonnes (mnt), down by 760,000 tonnes (t) or 4.7% as compared to 16.21 mnt in mid-June 2025. Meanwhile, steel inventories increased by 150,000 t or 1% m-o-m from 15.3 mnt a month ago. Moreover, inventories rose by 760,000 t or 5.2% y-o-y from 14.69 mnt a year ago.

Production volumes

The average daily crude steel output of CISA-affiliated mills stood at 2.129 mnt in late-June, down by 0.9% from 2.14 mnt in mid-June. Furthermore, on a y-o-y basis, output edged down by 1.8% as compared to 2.168 mnt a year ago.

The average daily finished steel output reached 2.257 mnt in late-June, representing an increase of 6.4% against 2.121 mnt in mid-June. Moreover, on a y-o-y basis, the same was up slightly by 1.2% y-o-y.

Average pig iron output stood at 1.953 mnt in late-June, inched up by 0.3% from 1.948 mnt in mid-June. Additionally, on a y-o-y basis, output marginally rose by 0.8%.

Outlook

This decline in inventory levels and crude steel production in China is due to seasonal weak demand during summer and cautious buying amid tariff uncertainties. Despite profitable margins encouraging mills to produce, subdued domestic and export demand has discouraged stockpiling. This imbalance between rising production and falling consumption pressured inventories to adjust downward to align with slower market activity.