CISA, Releases Production Results of Major Chinese Steelmakers for Early May

Production results of major Chinese steelmakers for early May show a slight decrease.

According to the China Iron and Steel Association (CISA), from May 1 to May 10, 2024, the production of crude steel, pig iron, and steel products by major Chinese steelmakers totaled 21.9149 million tons, 19.3649 million tons, and 20.239 million tons, respectively. The average daily production of crude steel and steel products was 2.1915 million tons and 2.0239 million tons, which decreased by 0.36% and 5.87%, respectively, compared to the late April figures. In contrast, pig iron production increased by 0.64% to 1.9365 million tons.

CISA explained, "In mid-May, the daily production fluctuations in steel products were more significant compared to crude steel and pig iron," and added, "This was influenced by the concentrated inventory replenishment by some member companies at the end of last month."

Furthermore, "The inventory increased by 2.51% compared to late April, reaching 16.2794 million tons," and noted, "This is a decrease of 10.82% and 7.56% compared to the same period last month and last year, respectively."

Meanwhile, on a nationwide basis, the average daily production of crude steel, pig iron, and steel products in early May was 2.6067 million tons, 2.2241 million tons, and 3.413 million tons, respectively. Compared to late April, crude steel and steel products production decreased by 0.24% and 2.03%, respectively, while pig iron production increased by 0.54%.