China’s daily steel output hits record high in late July; mills' inventories tumble [CORRECTED]

Crude steel, finished steel and hot metal output of the China Iron & Steel Association’s (Cisa) member mills rose to record highs in late July, but steelmakers’ finished steel inventories dropped sharply, according to data released late on Wednesday August 5.

July 21-31 output
Crude steel: 2.17 million tonnes per day, up by 1.59%
Finished steel: 2.18 million tpd, up by 6.89%
Hot metal: 1.93 million tpd, up by 1.07%
Mills’ finished steel inventory
13.13 million tonnes, down by 1.25 million tonnes (8.68%)
Spot market inventory
Hot-rolled coil: 1.75 million tonnes, up by 3.6%
Cold-rolled coil: 1.17 million tonnes, down by 2.5%
Plate: 850,000 tonnes, down by 2.3%
Wire rod: 2.10 million tonnes, up by 2.9%
Rebar: 6.70 million tonnes, up by 1.5%
Total (all five major products): 12.57 million tonnes, up by 170,000 tonnes (1.4%).
Cisa’s output data for the preceding 10 days can be found here.
[Due to a miscalculation, Cisa members' crude steel, finished steel and hot metal output were erroneously stated as 2.39 million tpd, 2.40 million tpd and 2.12 million tpd when this report was first published. These have been corrected.]

Jessica Zong

jessica.zong@fastmarkets.com

Published

Jessica Zong

August 06, 2020

04:10 GMT

Shanghai