Based on the latest estimated figures provided by the China Iron and Steel Association (CISA), in mid-January (Jan. 11-20) this year China's average daily output of crude steel was 1.67 million mt, down 22,000 mt or 1.3 percent compared to early January.
As stated by the CISA, since last September when domestic steel prices began to weaken Chinese steel mills have been operating at reduced capacity utilization rates. After the Spring Festival, domestic steel mills have not yet increased production.