According to weekly data released by the China Iron and Steel Association, the aggregate daily crude steel output of large and medium sized member enterprises were down by 1.1% during late July (July 21st to 31st) compared to the previous week (July 11th to 20th).
The country’s average daily crude steel output by CISA members during late-July totaled 1.76 million tonne, down 1.1% when compared to the average daily output during mid July (July 11th to 20th).
The crude steel production by CISA members during the whole of July this year totaled 55.56 MT. The daily production during the month averaged at 1.79 million tonne per day, 2.75% down when compared with the record highs of 1.84 million tonne per day reported during mid June this year.
The finished steel inventories at CISA mills too dropped sharply during the week. The inventories as on July 31st stood at 14.08 million tonnes, nearly 5% down when compared with the inventories of 14.805 million tonnes as on July 20th.
Source – Scrap Monster