The China Iron and Steel Association (CISA) has announced that in late August (August 21-31) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.885 million mt, down 4.0 percent compared to mid-August (August 11-20) this year.
In mid-August, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 1.973 million mt, up 5.8 percent compared to early August (August 1-10) this year.
Inventory levels of the large and medium-sized steel enterprises in China also decreased in the given period. As of August 31, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 16.25 million mt, decreasing by 11.4 percent compared to August 20.
The average aggregate daily crude steel output decreased by 4.0 percent in late August, signaling that intentions and actions on the supply side to curtail production were both very clear, which will boost market sentiments in the near future, especially in the traditional peak season of September.
