SHANGHAI Chinas crude steel output climbed further in late April, an indication of increasing supply pressure nationwide.
Output by the China Iron and Steel Associations (Cisas) member millsmainly medium-sized and large steelmakersproduced 1.8 million tonnes of steel per day during the last 10 days of April, up 2.66 percent from the preceding 10 days, the group said May 9.
Their output averaged 1.78 million tonnes per day for all of April, up 2.8 percent from the previous month, Cisa said.
The increase in production was within expectations, as mills generally saw profits improve amid steady steel prices and declining raw material costs over the past few weeks, market sources said.
However, the association didnt publish its late-April estimate for the entire countrys daily crude steel output.
That move was likely an effort to avoid releasing figures that conflicted with data from the National Bureau of Statistics (NBS), a Beijing-based analyst said.
There have been significant gaps between the data released by Cisa and NBS in February to March. For example, Chinas crude steel output in March was 2.27 million tonnes per day based on NBS figures while Cisa data put it at 2.09 million tonnes per day.
The combined finished steel inventory at Cisas member mills totaled 14.34 million tonnes as of April 30, down 9.3 percent from April 20.
A version of this article was first published by AMM sister publication Steel First.