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Revised January Chinese steel production came in at 1.829 mtpd, 8.9% higher than the China Iron & Steel Association (CISA)’s “flash” and 8.7% higher than December levels, while February output came in at 1.928 mtpd, a whopping 13.7% higher than CISA’s February “flash” and 5.4% higher than January.

February net steel exports declined 23.7% from January to 2.13 mt, the lowest level in a year, as steel exports declined 9.1% to 3.39 mt – also a year low – and steel imports rebounded 34% from January’s record-low.  The decline in China’s balance of steel trade combined with the uptick in production means that the apparent supply of steel in China rose by 8.7% in January and was actually stable in February, as compared to original thinking of a decline of 5%.

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