daily crude steel output surpassed 2 million tonnes in
mid-February, up 0.9 percent from the first 10 days of the
month, according to China Iron and Steel Association (Cisa)
Production averaged 2.006
million tonnes per day during the second 10 days of February,
up from nearly 1.989 million tonnes daily in the previous 10
days. Daily production had been below that level since late May
Cisa members daily output
increased 1 percent to 1.719 million tonnes in
"Chinese mills were using
relatively cheaper iron ore in mid-February. Major mills had
also been making ex-works hikes since November," an industry
analyst in Beijing told AMM sister publication
Steel First. "Good profit margins encouraged them to
produce more." However, market trading was suspended in
mid-February due to the weeklong Chinese New Year holiday.
Major mills inventories are now at the highest level
since August, the analyst added.
A version of this article was first published by AMM sister
publication Steel First.