SHANGHAI, Feb 22 (SMM) – China's steel production decreased moderately in late January.
The China Iron and Steel Association (CISA) reported that crude steel output across major mills in China averaged 2.18 million mt per day in the last 11 days of January, down 1.87% from mid-January and up 9.22% from the same period a year ago.
Average daily production of pig iron across those mills fell 2.07% from mid-January to 1.92 million mt in late January, while that of steel products rose 6.6% to 2.2 million mt.
As of January 31, inventories of steel products across those mills stood at 13.76 million mt, down 280,400 mt from January 20. The stocks were 2.14 million mt, or 18.43% higher than the beginning of the year, and were 695,100 mt, or 5.32% higher than the same period last year.
