China’s large and midsize steelmakers continued with increased production rate in June, while output of small steelmakers dropped because their operation is more flexible and local governments recently management on environment protection.
Major steelmakers produced 1.7624Mt daily on average in June 21 to 30, up 0.97% from the previous 10 days, the China Iron and Steel Association (CISA) said. Nation- wide daily average crude steel output is estimated at 2.1812Mt, up 0.78% from the previous 10 days.
The daily average output of small steelworks in China was estimated at 419kt, marginally down 0.2%, on the same period last year. Small works account for 19.2% of the country’s total.
The CISA statistics also showed the major steelmakers had total steel stockpiles of 12.679Mt by the end of June, 874kt less than that of June 20.
Stockpiles of steel products at distributors remained at a high level despite a consecutive drop for 14 weeks. By June end, stockpiles at major steelmakers totalled 13.55Mt, down 130kt from a month earlier but still 1.4Mt more than a year earlier.
Source: China Metals e-mail email@example.com