China’s crude steel output continues to grow in late September

China’s crude steel output continued to rise in late September, putting further pressure on steel prices.

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China produced 2.152 million tpd of crude steel in the last ten days of September, up 0.4% from 2.144 million tpd recorded previously, according to estimates released by China Iron & Steel Assn (Cisa) on Monday October 14.

Output of Cisa member mills, which are mainly medium-to large-sized steelmakers averaged 1.788 million tpd in late September, up 0.5% from mid September.

Non-Cisa members’ daily output remained little changed at 364,000 tonnes.

By the end of the month, steel inventory of Cisa members stood at 12.61 million tonnes, down 4.6% from the previous ten days.

Average daily crude steel output for the first nine months of 2013 reached 2.09 million tonnes, which is an annualized rate of 763 million tonnes, up 6.6% from 716 million in 2012.

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