【Steel Association Data】Global Inventory and Production Analysis for 2024

I. According to the China Iron and Steel Association (CISA) Data:
Mid-February: The social inventory of 5 major types of steel materials in 21 cities reached 12.12 million tons, a sequential increase of 2.56 million tons, rising by 26.8%. The inventory has significantly increased compared to the beginning of the year by 4.83 million tons, up by 66.3%, and decreased by 1.6 million tons compared to the same period last year, down by 11.7%. Graphite electrodes used in the short-process electric arc furnace steelmaking are a critical component in the steel production process.

Specifically, the inventory of rebar stood at 5.92 million tons, a sequential increase of 1.49 million tons, up by 33.6%. The inventory has been rising for 7 consecutive weeks, with the increase continuing to expand. Compared to the beginning of the year, it increased by 2.87 million tons, up by 94.1%, and decreased by 990,000 tons compared to the same period last year, down by 14.3%.

II. As of February 23, according to the World Steel Association:
Global crude steel production in January 2024 was 148.1 million tons, a year-on-year decrease of 1.6%. China's crude steel production for January was 77.2 million tons, down by 6.9% year-on-year. India's production was 12.5 million tons, up by 7.3% year-on-year. Japan produced 7.3 million tons, up by 0.6% year-on-year. The United States produced 6.8 million tons, a decrease of 0.3% year-on-year. Russia's production was 6.2 million tons, up by 1.2% year-on-year. South Korea produced 5.7 million tons, an increase of 1.5% year-on-year. Turkey's production was 3.2 million tons, up by 24.7% year-on-year. Germany produced 2.9 million tons, down by 0.9% year-on-year.
III. The National Bureau of Statistics Released 70-City Housing Price Data:
In January, the number of cities with month-on-month decreases in new and second-hand home prices were 56 and 68, respectively, decreasing by 6 and 2 cities compared to the previous month. This marks the first increase in the number of cities with rising housing prices in nearly 11 months. Meanwhile, the month-on-month drop in housing prices overall narrowed, with Shenzhen's second-hand housing prices leading the decline nationally by 1.6%, while Shanghai's new housing prices had the highest month-on-month increase. Year-on-year, housing prices generally continued to decline.
IV. According to the official data from the Port of Newcastle, Australia:
In January 2024, the total coal throughput at the Port of Newcastle was 13.068 million tons, a month-on-month decrease of 11.31% and a year-on-year increase of 30.94%. The export value in January was AUD 2.723 billion, approximately RMB 12.844 billion. Data analysis in the steel industry, welcome to contact us for more insights.