China's steel output declines in late January

Data from the China Iron and Steel Association reveals that by the end of January, the daily average output of pig iron from China's primary steel manufacturers was approximately 1.78 million tons. This figure reflects a 6% decline compared to mid-January and a 1.61% decrease year-on-year.

Additionally, the daily average production of crude steel and steel products stood at about 2.02 million tons and 1.97 million tons, respectively. These figures represent reductions of 3.69% and 2.9% from mid-January levels. During January, the blast furnace operating rate among China's primary steel manufacturers was reported at 75.7%.