China’s crude steel production slips 3.5%, y-o-y, in May

China’s crude steel production fell 3.5% y-o-y to 96.61 mnt in May 2022. However, the volumes rose by 4% m-o-m compared with 92.78 mnt in April 2022, according to the National Bureau of Statistics (NBS). The average daily crude steel output in the country increased marginally by 0.7% m-o-m to 3.11 mnt in May.

Crude steel output in January-May decreased by 8.7% y-o-y to 435.02 mnt.

Pig iron output up y-o-y

Pig iron production stood at 80.49 mnt in May, up 2% on a y-o-y basis. The average daily pig iron output registered an increase of 1.4% m-o-m to 2.6 mnt in May.

Production fell 5.9% to 360.87 mnt in January-May.

Finished steel output down y-o-y

Finished steel output stood at 122.61 mnt last month, down 2.3% y-o-y. The average daily steel output increased 3.3% m-o-m to 3.95 mnt in May.

In January-May period, output fell by 5.1% to 549.31 mnt against the same period last year.