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The steel production and inventory performance in July of China

In terms of steel production, due to tight market demand and limited transportation of raw materials and finished products due to floods in July, the growth rate of steel production slowed down. The production index was 54.5%, down 3.0 percentage points from the previous month, ending the 4-month-on-month increase in a row. According to the statistics of China Steel Association, in July, the cumulative average daily steel production of iron and steel enterprises decreased by 1.09% month on month, and increased by 11.07% year-on-year.

In terms of inventory, the overall inventory of steel mills showed a decreasing trend in July. According to the analysis of the report, due to the impact of flood disaster, steel demand for building repair has been generated in many places, and the steel demand of factories and construction sites has also been delayed. With the end of the rainy season, the steel mill inventory has gradually transferred to the society for market demand. The inventory index of finished products was 40.2%, down 4.1 percentage points from the previous month.

On the other hand, social inventory increased first and then decreased. In the first ten days of July, the inventory of 5 kinds of steel in 20 cities in China was 12.48 million tons, ending the downward trend in 10 consecutive days. By the middle of the year, the social stock of five major steel varieties in 20 cities dropped to 12.13 million tons, a slight decrease of 0.6% compared with the previous ten days.