China’s steel inventory and average daily crude steel production of CISA (China Iron and Steel Industry Association) affiliated mills in early-February 2023 rose with an expectation of balanced supply and demand due to the steady recovery of the Chinese economy.
Steel inventory:
- Steel inventory at CISA mills stood at 18.02 mnt in early-February. The volume increased by 1.54 mnt or 9.36% over 16.48 mnt in late-January.
- Inventory rose by 3.14 mnt or 21.11% compared to early-January 2023.
- Inventory up by 1.17 mnt or 6.97% compared to the year-ago period.
Crude steel output:
- The average daily crude steel output of CISA-affiliated mills stood at 2.06 mnt in early-February, up 4% from late January.
- The average daily finished steel output stood at 1.93 mnt in the period under review, up 0.85% over late January. The same grew by 6.8% y-o-y.
- The average daily pig iron output stood at 1.89 mnt in early-February, up 4.56% m-o-m and 9.9% y-o-y.
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