Features
CRU: Cisa calls on steel makers to reduce stocks
Written by CRU
May 14, 2024
The China Iron and Steel Association (Cisa) has urged steel producers to cut back on record high inventories while the sector struggles with oversupply.
In late March, stocks were 18.34 Mt, up 11% year-on-year and an all-time high for the period.
Though crude steel output was 1.9% lower y/y at 257 Mt, apparent consumption fell by a greater amount, 4.6%, Reuters news agency reported Cisa as saying.
A protracted property crisis and slowing infrastructure demand growth has reduced demand for steel in China.
This article was originally published by CRU. Learn more about CRU’s services at www.crugroup.com.
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