China’s daily crude steel output has kept growing month on month since the beginning of 2012, and reached more than 2Mt in May.
Daily crude steel output in June will likely be near a record levels at around 2Mt as any decline in output is limited by the country’s massive production capacity.
Statistics showed that commercial stocks of the domestic steel products amounted to 15.949Mt by May 31, down 1.523Mt or 8.7% from that at the end of April. This was largely due to construction steel inventories falling by 1.187Mt month on month to 8.531Mt and steel plate stocks dropped 336kt to 7.418Mt by May 31.
Source: China Metals email@example.com