SHANGHAI, Jun 4 (SMM) – Crude steel output across major mills in China averaged 2.09 million mt per day in the last 11 days of May, up 0.58% from the level seen in the second 10 days of the same month and nearing the record high of 2.11 million mt notched in mid-September 2019, according to data from the China Iron and Steel Association (CISA) released Wednesday.
That brought the average daily crude steel output at those CISA key mills for the month of May to 2.07 million mt, up 6.75% from the prior month and 2.22% from the same month of 2019.
On a monthly basis, average daily production of pig iron across those mills rose 4.67% to 1.86 million mt in May, and that of steel products increased 5.42% 1.99 million mt.
As of the end of May, inventories of steel products across those mills stood at 13.29 million mt, down 1.6 million mt, or 10.73%, from May 20. The stocks were 3.75 million mt, or 39.38% higher than the beginning of the year.