Daily crude steel output at key member firms of China Iron and Steel Association (CISA) was registered at 1.98 million tonnes during January 11-20, ticking down 0.23% compared with the previous ten days and 11.2% lower compared with the same period in 2021, the CISA data showed.

Daily production of pig iron averaged 1.75 million tonnes, up 1.1% from ten days ago but down 10.1% from the same period in the year prior. Daily output of finished steel increased 1.86% from ten days ago but fell 9.78% from the year prior to 1.9 million tonnes.

Basing on the production data from CISA member mills, China was estimated to produce a total of 25.34 million tonnes of crude steel during the same period, with daily output rising 0.65% from ten days ago to 2.53 million tonnes.

Total output of pig iron in China was estimated at 20.96 million tonnes, with daily output falling 0.05% to 2.1 million tonnes. Total finished steel output was expected to reach 32.94 million tonnes, with daily output ticking up 1.05% to 3.29 million tonnes.

As of January 20, CISA key member steel mills held 13.15 million tonnes of finished steel stocks, up 1.76% or 227,700 tonnes from ten days ago and rising 16.4% or 1.85 million tonnes from the early January level. The volume was 6.36% or 893,000 tonnes lower compared with the year-ago level, data showed.

(Writing by Rebecca Liu  Editing by Harry Huo)
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