China's daily crude steel production increases

According to China Iron and Steel Association (CISA) data, daily crude steel production averaged around 2 million tons, increasing by 1.5% compared to the end of July.

July was a challenging month for the Chinese steel industry. Production fell by 9.5% compared to June to 82.94 million tons. Compared to the same period last year, this represents a decline of 9%, reflecting a significant slowdown in the sector. The average daily production rate fell 12.4% from June to 2.68 million tons, the lowest daily production level recorded so far this year.

In early August, China’s key steel producers recorded a total crude steel production of approximately 20 million tons, according to data from the China Iron and Steel Association (CISA). The daily output for CISA’s major enterprise members averaged around 2 million tons, representing a 1.5% increase compared to late July. However, this figure also marked a 6.9% decrease from the same period last year.

At the same time, these steel companies reported a steel inventory of about 15.9 million tons. This level reflects a slight reduction, with a 0.93% decrease from late July and a 0.94% decline from the same period a year ago.