China’s crude steel output continues ascent in mid-June

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The country’s daily crude steel output averaged 2.1643 million tonnes during the period, up 0.4% from the first 10 days of June, according to estimates released by China Iron & Steel Assn (Cisa) on Friday June 28.

Cisa members reported a daily output of 1.7455 million tonnes during the period, up 0.8% from the previous period.

The figure is also the second-highest in history.

Daily output from non-Cisa member mills fell by 1.3% from early June to 418,800 tonnes.

“The blow from the lower steel product prices and tightened liquidity had a bigger effect on smaller steel mills,” an industry analyst in Beijing said.

Cisa members’ inventory as at June 20 stood at 13.55 million tonnes, up 703,000 tonnes compared with the level recorded 10 days earlier.