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China key steel mills daily output up 2.5% in mid-Aug

Average daily crude steel output of China’s key steel mills registered a second straight ten-day rise of 2.46% from ten days ago to 1.72 million tonnes in mid-August, according to the latest data from the China Iron and Steel Association (CISA).
China produced 2.14 million tonnes of crude steel on average each day in August 11-20, up 1.98% from ten days ago, said the CISA.
Data showed stocks in key steel mills stood at 15.45 million tonnes by August 20, edging down 1.24% from August 10 and down 7.15% from July.
In addition, key steel mills’ daily output of pig iron reached 1.69 million tonnes during the same period, rising 2.33% from the past ten days.
Domestic steel products prices posted a slower growth in mid-August, with rebar price averaging 2,211.6 yuan/t, edging up 0.5% from ten days ago, showed data from the Ministry of Commerce.
Crude steel output may fall from late-August and stay at a low level in early-September, mainly due to extensive production cut in northwest and northern steel mills impacted by the Beijing military parade and great loss, analyst said.