According to the China Iron and Steel Association (CISA), in March this year Chinese domestic crude steel output dropped on month-on-month basis. In late March (Mar. 21-31), China's average daily crude steel output was 1.9222 million mt, down 1.16 percent from 1.9448 million mt in mid-March (Mar.
11-20). Meanwhile, the 76 member companies of the CISA reported an average daily output of 1.6146 million mt in late March, 0.62 percent lower than in mid-March.
Viewing the whole month, China's average daily output of crude steel in March was 1.9137 million mt, down 1.33 percent from 1.9395 million mt in February. In March, the 76 member companies of the CISA reported an average daily crude steel output of 1.6113 million mt, down 2.08 percent from 1.6455 million mt in February.
In the meantime, insiders report that domestic finished steel inventories in China have dropped for five consecutive weeks, which is good news for the finished steel price trend.