The China Iron and Steel Association (CISA) has announced that the total steel inventory at key Chinese enterprises stood at 16.71 million tonnes (mnt) in mid-April 2025. Inventory levels increased by 670,000 t or 4.2% from 16.04 mnt in early-April 2025. However, the inventory dropped by 200,000 t or 1.2% m-o-m from 16.91 mnt in mid-march. Y-o-y, steel inventories declined by 1.41 mnt or 7.8% compared to 18.11 mnt in mid-April 2024.
Production volumes
The average daily crude steel output of CISA-affiliated mills touched 2.229 mnt in mid-April, an increase of 1.5% compared to 2.197 mnt in early-April. Furthermore, it rose by 5.2% y-o-y from 2.12 in mid-April 2024.
The average daily finished steel output stood at 2.11 mnt in mid-April, an increase of 3.3% against 2.04 mnt in early-April. Moreover, output rose by 3.1% y-o-y.
Average pig iron output stood at 1.965 mnt in mid-April, reflecting an increase of 0.7% against 1.95 mnt in early-April. Furthermore, on a y-o-y basis, output increased by 3.7%.
Outlook
China’s steel inventory presents a mixed picture, with a m-o-m rise but y-o-y decline, highlighting inconsistent demand trends. The increase in production raises concerns of potential oversupply, while global economic uncertainties and domestic policy shifts could further influence market dynamics.
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