Industrial data showed that major steel mills in China saw their average daily crude steel production grow by 0.51% in early January compared to the rate recorded in late December 2022.

Daily crude steel production reached 1.93 million tonnes in early January, according to the China Iron and Steel Association.

The data showed that the major steel producers produced 19.26 million tonnes of crude steel in that period.

The data showed that during this period, the daily output of pig iron decreased by 0.4 per cent, while that of rolled steel lost 8.68 per cent.