SHANGHAI, May 20 (SMM) – China's steel production increased slightly in early May.

The China Iron and Steel Association (CISA) reported that crude steel output across major mills in China averaged 2.42 million mt per day in the first ten days of May, up 0.75% from late April and up 17.84% from the same period a year ago.

Average daily production of pig iron across those mills rose 2.06% from late April to 2.06 million mt in early May, and that of steel products fell 7.1% to 2.29 million mt.

As of May 10, inventories of steel products across those mills stood at 14.68 million mt, up 1.27 million mt from late April. The stocks were 3.06 million mt, or 26.36% higher than the beginning of the year, and were 22,000 mt, or 0.15% higher than the same period last year.