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The country produced 2.2802 million tpd of crude steel during the second ten days of April, up 5.98% from early April, according to estimates released by the China Iron & Steel Assn (Cisa) on Friday April 25.
Output of Cisa member mills, which are mainly medium-sized and large steelmakers, averaged 1.7494 million tpd in mid-April, up only 0.12% from the preceding ten days.
As at April 20, Cisa member mills’ combined finished steel inventory totalled 15.8149 million tonnes, up 4.5% from that on April 10, according to the association’s data.
Steel prices posted some gains at the start of the second ten days of April, but slid towards the end of the period.
Spot rebar prices in eastern China gained 10-20 yuan ($2-3) per tonne over April 11-15 before sliding 50 yuan ($8) per tonne to 3,260-3,320 yuan ($528-538) per tonne on April 18.
China’s daily crude steel output hit a new high in mid-April, continuing the rebound in the first ten days of the month.