CISA mills’ daily crude steel output rebounds by 3.7% in early November, stocks also up

Tuesday, 16 November 2021 13:35:52 (GMT+3)   |   Shanghai

The China Iron and Steel Association (CISA) has announced that in early November (November 1-10) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.7995 million mt, up 3.7 percent compared to late October (October 21-31).

In late October this year the average aggregate daily crude steel output of CISA members was 1.7353 million mt, down 7.43 percent compared to mid-October.

Inventory levels in the Chinese steel market rose in the given period. As of November 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 13.5068 million mt, rising by 661,900 mt or 5.15 percent compared to October 31.

As of November 10, rebar prices at the Chinese domestic market are standing at RMB 4,720/mt ($832/mt), decreasing by huge RMB 600/mt ($94/mt) or 11.3 percent since October 29. 

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CISA mills’ daily steel output down 7.43 percent in late October