Daily crude steel output at key member firms of China Iron and Steel Association (CISA) stood at 2.31 million tonnes during early May (May 1-10), falling 2.26% compared with the previous ten days and 4.65% lower compared with the same period in 2021, the CISA data showed.

Daily production of pig iron averaged 2.03 million tonnes during the given period, down 0.47% from ten days ago and 1.44% from the same period in the year prior. Daily output of finished steel decreased 5.73% from ten days ago and 5.68% from the year prior to 2.16 million tonnes.

Basing on the production data from CISA member mills, China was estimated to produce a total of 30.73 million tonnes of crude steel during the same period, with daily output falling 1.72% from ten days ago to 3.07 million tonnes.

Total output of pig iron in China was estimated at 24.13 million tonnes, with daily output down 0.22% to 2.41 million tonnes. Total finished steel output was expected to reach 38.83 million tonnes, with daily output down 1.76% to 3.88 million tonnes.

As of May 10, CISA key member steel mills held 18.75 million tonnes of finished steel stocks, 3.65% higher from late March, 65.96% higher than the start of the year and 27.71% higher compared with the same period in 2021, data showed.

(Writing by Rebecca Liu  Editing by Tammy Yang)
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