The China Iron and Steel Association (CISA) has announced that in late October (October 21-31) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.76 million mt, down 7.0 percent compared to mid-October (October 11-20) this year.
In mid-October, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 1.894 million mt, down 2.3 percent compared to early October (October 1-10).
Inventory levels of the large and medium-sized steel enterprises in China decreased in the given period. As of October 31, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 14.90 million mt, decreasing by 13.5 percent compared to October 20.
In late October, steel mills were cutting their outputs amid the poor performance in steel market, while inventories declined at a faster pace. However, demand for steel has been slack, and so market participants should continue to monitor the demand situation closely in the coming period, CISA stated.
