Daily crude steel output at CISA key mills dipped 0.3% in mid-February

SHANGHAI, Feb 24 (SMM) – China's steel production decreased slightly in mid-February.

The China Iron and Steel Association (CISA) reported that crude steel output across major mills in China averaged 2.22 million mt per day in the second 10 days of January, down 0.3% from early February and up 17.62% from the same period a year ago.

Average daily production of pig iron across those mills rose 0.87% from early February to 1.96 million mt in mid-February, while that of steel products fell 1.87% to 2.07 million mt.

As of February 20, inventories of steel products across those mills stood at 15.55 million mt, up 3.08 million mt from early February. The stocks were 5.93 million mt, or 51% higher than the beginning of the year, and were 3.79 million mt, or 17.78% lower than the same period last year.