Ministry of industry and information technology: steel production inventory fell in March

The Ministry of industry and information technology released the statistics of China Iron and Steel Industry Association. In March, the daily output of key iron and steel enterprises fell on a month on month basis, and the overall inventory decreased but was still at a high level. In terms of production, in March, according to the key statistics, the cumulative average daily output of pig iron, crude steel and steel for iron and steel enterprises was 1.824 million tons, 1.695 million tons and 1.766 million tons respectively, down 2.1%, 3.1% and 1.7% on a month on month basis.

In terms of enterprise inventory, in late March, the steel inventory of iron and steel enterprises was mainly counted as 18.067 million tons, a decrease of 3.342 million tons or 15.6% compared with the highest inventory in early March, and an increase of 8.534 million tons or 89.5% compared with the beginning of the year.