Daily crude steel output at key member firms of China Iron and Steel Association (CISA) was registered at 1.97 million tonnes during January 1-10, ticking down 0.75% compared with the previous ten days and 11.67% lower compared with the same period in 2021, the CISA data showed.

Daily production of pig iron averaged 1.75 million tonnes, up 1.06% from ten days ago but down 10.14% from the same period in the year prior. Daily output of finished steel increased 1.01% from ten days ago but fell 10.53% from the year prior to 1.89 million tonnes.

Basing on the production data from CISA member mills, China was estimated to produce a total of 28.97 million tonnes of crude steel during the same period, with daily output rising 9.73% from ten days ago to 2.63 million tonnes.

Total output of pig iron in China was estimated at 25.18 million tonnes, with daily output falling 4.4% to 2.52 million tonnes. Total finished steel output was expected to reach 32.6 million tonnes, with daily output dipping 0.4% to 3.26 million tonnes.

As of January 10, CISA key member steel mills held 12.92 million tonnes of finished steel stocks, up 14.39% or 1.63 million tonnes from ten days ago and falling 3.15% or 420,100 tonnes from the early December level. The volume was 0.8% or 104,600 tonnes lower compared with the year-ago level, data showed.

(Writing by Rebecca Liu  Editing by Tammy Yang)
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