China's steel stocks increased in mid-July, with production also increasing

The China Iron and Steel Association (CISA) reported that the daily average crude steel production of its member plants reached 2.141 million tons in mid-July, representing a 2.1% increase from 2.097 million tons at the beginning of July. However, this figure indicates a slight 0.3% decrease compared to the same period last year.

Finished steel production averaged 2.08 million tons per day in mid-July. This figure represents a 4.6% increase compared to 1.988 million tons at the beginning of July and a 2.1% increase on an annual basis.

Pig iron production reached 1.944 million tons during the same period, an increase of 0.6% from 1.931 million tons at the beginning of July. Additionally, production increased by 0.9% on an annual basis.