The China Iron and Steel Association (CISA) has announced that in mid-September (September 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.922 million mt, down 0.1 percent compared to early September (September 1-10) this year.
In early September, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 1.924 million mt, up 2.0 percent compared to late August (August 21-31) this year.
Inventory levels of the large and medium-sized steel enterprises in China increased in the given period. As of September 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 17.08 million mt, increasing by 3.4 percent compared to September 10.
The average aggregate daily crude steel output declined by 0.1 percent in mid-September, while inventory levels rose by 3.4 percent in the given period, signaling that demand for steel from downstream users has not improved even in the traditional peak season of September.
As previously reported by SteelOrbis, the China Iron and Steel Association (CISA) has called on domestic producers to control their outputs, though their inventories have not declined as expected, weakening the support for steel prices.
