[ferro-alloys.com]China's total crude steel output over April 1-10 averaged 2.6053 million mt/day, up 5.16% from late March and 1.63% higher than in the same period a year earlier, China Iron & Steel Association's latest report showed.

Crude steel production at works operated by CISA member companies averaged 1.9458 million mt/day over April 1-10, up 6.51% from the last 10 days of March and edging down 0.47% year on year, the association said in a report released Tuesday.

Finished steel stocks totaled 17.9512 million mt on April 10, down 0.64% from late March, the CISA data showed.

CISA said downstream demand for steel in China had started to rebound, but it would take some time for the market to fully recover as supply continued to exceed demand. Steel stocks were starting to be drawn down, but remain far higher than at the same time last year, it added.

China kept its steel production high during its pandemic lockdown despite a lack of downstream activity in construction and manufacturing.

By end March, China's domestic composite steel price index, comprising both long and flat products, was down 1.18% on month and 9.55% on year.  

Daily crude steel output averaged 2.5477 million mt/day in March, down 1.2% from January-February, National Bureau of Statistics data showed.

(S&P Global Platts)

• [Editor:王可]