Daily crude steel output at CISA key mills rose 0.85% in late February

SHANGHAI, Mar 10 (SMM) – China's steel production increased slightly in late February.

The China Iron and Steel Association (CISA) reported that crude steel output across major mills in China averaged 2.32 million mt per day in the last eight days of January, up 0.85% from mid-February and up 14.07% from the same period a year ago.

Average daily production of pig iron across those mills rose 0.67% from mid-February to 2.05 million mt in late February, and that of steel products rose 11.52% to 2.39 million mt.

As of February 28, inventories of steel products across those mills stood at 16.41 million mt, down 1.14 million mt from mid-February. The stocks were 2.65 million mt, or 19.24% higher than the end of last month, and were 4.07 million mt, or 19.89% lower than the same period last year.