SHANGHAI, May 31 (SMM) – China's steel production decreased moderately in mid-May.
The China Iron and Steel Association (CISA) reported that crude steel output across major mills in China averaged 2.38 million mt per day in the second ten days of May, down 1.59% from early May and up 14.37% from the same period a year ago.
Average daily production of pig iron across those mills fell 1.01% from early May to 2.04 million mt in mid-May, and that of steel products rose 0.16% to 2.3 million mt.
As of May 20, inventories of steel products across those mills stood at 14.64 million mt, down 44,300 mt from early May. The stocks were 1.23 million mt, or 9.14% higher than the end of last month. The stocks were 3.02 million mt, or 25.97% higher than the beginning of the year, and were 243,700 mt, or 1.64% lower than the same period last year.
