The China Iron and Steel Association (CISA) has announced that in mid-July (July 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.015 million mt, down 0.4 percent compared to early July (July 1-10) this year.
In early July, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 2.022 million mt, down 0.1 percent compared to late June (June 21-30) this year.
Inventory levels of the large and medium-sized steel enterprises in China increased in the given period. As of July 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 18.13 million mt, increasing by 8.1 percent compared to July 10.
The 8.1 percent rise in inventory levels in mid-July followed a 3.0 percent increase in inventory levels recorded in early July, reflecting ongoing slack demand from downstream users amid high summer temperatures. In particular, according to the data issued by CISA, stocks increased sharply in northeast China, mid-south China, east China and north China, rising by 18.1 percent, 12.6 percent, 7.8 percent and 6.0 percent compared to early July, respectively.
