Daily crude steel production at key member firms of China Iron and Steel Association (CISA) stood at 2.02 million tonnes during November 21-30, rising 2.39% compared with the previous ten days, the CISA data showed.

That represented a drop of 0.61% from the same period last year, but growing 17.42% from that in 2021, the CISA said.

Daily output of pig iron averaged 1.87 million tonnes during the same period, up 1.03% from ten days ago. The figure was 0.74% higher than the year-ago level and increased 14.85% compared to that in 2021.

Daily output of finished steel increased 9.55% from ten days ago to 2.18 million tonnes. This comparatively high growth was attributed to several key member firms conducting centralized settlements at the end of November. Otherwise, the daily output would have increased by 2.31% from the previous ten days.

Compared to the same period in 2022 and 2021, the daily output of finished steel climbed 5.52% and 14.06%, respectively.

Nationwide, daily output of crude steel was estimated to gain 1.70% from ten days ago to 2.58 million tonnes. The daily pig iron production is anticipated to be 2.25 million tonnes, a 1.16% rise compared to ten days earlier, and daily finished steel output at 3.62 million tonnes, up 1.32%.

As of November 30, the CISA key member steel mills held 12.96 million tonnes of finished steel in stock, 15.44% lower than that on November 20 and down 5.87% compared with October 30. It was also 15.30% lower than the same period last year.

(Writing by Riley Liang  Editing by Harry Huo)
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