SHANGHAI, Mar 30 (SMM) – China's steel production decreased moderately in early March.

The China Iron and Steel Association (CISA) reported that crude steel output across major mills in China averaged 2.27 million mt per day in the first ten days of March, down 2.08% from late February and up 25.58% from the same period a year ago.

Average daily production of pig iron across those mills fell 3% from late February to 1.99 million mt in early March, and that of steel products fell 10.97% to 2.13 million mt.

As of March 10, inventories of steel products across those mills stood at 17.88 million mt, up 1.47 million mt from late February. The stocks were 6.26 million mt, or 53.89% higher than the beginning of the year, and were 3.52 million mt, or 16.46% lower than the same period last year.