SHANGHAI, Jul 6 (SMM) – China’s steel production remained at record high levels in late June, on track for a new record high of monthly output.
The China Iron and Steel Association (CISA) reported Saturday that crude steel output across major mills in China averaged 2.14 million mt per day in the last 10 days of June, barely changed from the record high level seen in the middle of June.
Daily crude steel output for the full month of June came in at 2.13 million mt, up 2.74% from May and 4.03% from the same month last year, according to the CISA report.
In June, average daily production of pig iron across those mills rose 2.17% month on month and 5.32% year on year to 1.9 million mt, while that of steel products jumped 3.64% month on month and 5.18% year on year to 2.06 million mt.
As of the end of June, inventories of steel products across those mills stood at 13.62 million mt, down 1 million mt, or 6.87%, from June 20. The stocks were 329,400 mt, or 2.78% higher than the end of May.