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According to data released by China's National Bureau of Statistics (NBS) on June 17, the country's pig iron, crude steel, and finished steel output from January–May period of this year totaled 361.13 million MT, 438.61 million MT, and 574.05 million MT, respectively, falling by 3.7%, decreasing by 1.4%, and increasing by 2.9% year over year. Compared to the 3% decline in January-April, the decline in crude steel production was slower.
China's production of finished steel, pig iron, and crude steel came to 76.13 million MT, 92.86 million MT, and 122.7 million MT in May alone. Year-over-year, these figures increased by 2.7%, 3.4%, and 1.2%, respectively. In May, China's production of crude steel increased by 8.0% over April.
In early June (June 1-10) this year, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.25 million MT, surge 3.3% compared to late May (May 21-31). Since it is in the traditional offseason now, the steel demand will slacken, thereby the steel prices may edge down in June.
Also Read : China March iron ore imports edge up, steel exports near 8-year high China’s Steel Exports Rise 6.3% in Q1 2024 Amid Global Tariff Tensions
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