SHANGHAI, Jun 29 (SMM) – China's steel production increased in early June.

The China Iron and Steel Association (CISA) reported that crude steel output across major mills in China averaged 2.34 million mt per day in the first ten days of June, up 2.15% from late May and up 13.33% from the same period a year ago.

Average daily production of pig iron across those mills rose 3.1% from late May to 2.02 million mt in early June, and that of steel products fell 4.36% to 2.2 million mt.

As of June 10, inventories of steel products across those mills stood at 14.23 million mt, up 6.14% or 823,700 mt from late May. The stocks were 2.61 million mt, or 22.45% higher than the beginning of the year, and were 1.21 million mt, or 9.28% higher than the same period last year.