SHANGHAI, Apr 7 (SMM) – China's steel production decreased slightly in late March.
The China Iron and Steel Association (CISA) reported that crude steel output across major mills in China averaged 2.21 million mt per day in the last 11 days of March, down 0.16% from mid-March and up 20.98% from the same period a year ago.
Average daily production of pig iron across those mills fell 0.11% from mid-March to 1.91 million mt in late March, and that of steel products rose 6.91% to 2.22 million mt.
As of March 31, inventories of steel products across those mills stood at 14.71 million mt, down 16% or 280.2 million mt from mid-March. The stocks were 1.7 million mt, or 10.38% lower than the end of last month. The stocks were 3.09 million mt, or 26.55% higher than the beginning of the year, and were 3.36 million mt, or 18.6% lower than the same period last year.