Daily crude steel output at CISA key mills dipped 0.53% in early-July

SHANGHAI, Jul 15 (SMM) – China’s steel production dipped in early July, but still stayed near record highs.

The China Iron and Steel Association (CISA) reported Tuesday that crude steel output across major mills in China averaged 2.13 million mt per day in the first 10 days of July, down 0.53% from late June but up 5.81% from the same period a year ago.

Daily crude steel output hit a record high of 2.14 million mt in the middle of June.

Average daily production of pig iron across those mills rose 0.11% from late June to a new record high of 1.92 million mt in early July, while that of steel products dropped 7.2% from a record high of 2.13 million mt to 1.98 million mt.

As of July 10, inventories of steel products across those mills stood at 13.62 million mt, up 400 mt from the end of June. The stocks were 4.08 million mt, or 42.84% higher than the beginning of the year.