China’s crude steel output in late-January down, Cisa says

China’s crude steel output for late-January fell 0.45% compared with the middle of the month, according to China Iron & Steel Assn’s estimates.

Daily crude steel output totalled 1.906 million during the last 11 days of the month, compared with 1.914 million tonnes in mid-January.

Cisa members, including state-owned and large steel mills, recorded a daily production of 1.604 million tonnes, down 0.53% from the previous period.

China’s daily crude steel output started to drop in mid-January.

“Downstream industries have suspended most of their production [in anticipation of the Chinese New Year this weekend]. Steelmakers are worried that boosting output could drag down the market given that demand has weakened considerably,” an analyst in Beijing said.

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