Daily crude steel output at key member firms of China Iron and Steel Association (CISA) stood at 2.1 million tonnes during May 21-31, down 6.68% compared with the previous ten days, the CISA data showed.
Daily production of pig iron averaged 1.93 million tonnes during the given period, falling 3.04% from ten days ago. Daily output of finished steel gained 0.7% from ten days ago to 2.15 million tonnes.
Nationwide, daily production of crude steel is estimated to fall 3.72% from ten days ago to 2.8 million tonnes. The daily pig iron output is calculated at 2.38 million tonnes, down 2.12%, while daily finished steel production is estimated at 3.74 million tonnes, ticking up 0.08%.
As of end of May 31, CISA key member steel mills held 15.62 million tonnes of finished steel stocks, 3.96% or 0.64 million tonnes lower than mid-May and reducing 13.75% or 2.49 million tonnes compared with the same period in the preceding month. The volume was 12.94% or 2.32 million tonnes lower compared with the same period in the preceding year, data showed.
(Writing by Rebecca Liu Editing by Harry Huo)
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