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As of late July 2024, a total of 21.71 million tonnes of crude steel, 19.69 million tonnes of pig iron, and 21.77 million tons of steel products were produced by key steel enterprises in China. Among these, the daily production of crude steel was 1.97 million tonnes, a 8.14% decrease DoD, a 7.59% decrease YoY; that of pig iron was 1.79 million tonnes, a 7.07% decrease DoD, a 6.97% decrease YoY; that of steel products was 1.98 million tonnes, a 2.83% decrease DoD(due to some enterprises concentrating their inventory at the end of the month; excluding these factors, the daily production of steel products in this period decreased by 4.34% DoD), a 8.45% decrease YoY.
Based on these estimates, China daily production of crude steel in July was 2.67 million tonnes, a 5.86% decrease MoM; that of pig iron was 2.25 million tonnes, a 5.65% decrease MoM; that of steel products was 3.86 million tonnes, a 2.16% decrease MoM.
At the end of late July 2024, the inventory of steel products in key steel enterprises was 16.05 million tonnes, a 1.54% or 251,600 tonnes decrease WoW(mid-July); an 9.23% or 1.36 million tons increase MoM; an 10.79% or 1.56 million tonnes increase YoY. (Information Statistics Department)
