The China Iron and Steel Association (CISA) has announced that in mid-March (March 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.8366 million mt, up 1.55 percent compared to early March (March 1-10).
Inventory levels in the Chinese steel market declined significantly in the given period as demand improved amid the resumption of production in downstream industries. As of March 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 19.824 million mt, decreasing by 7.4 percent compared to March 10.
The average rebar price in the Chinese domestic market rose in the period in question due to improved demand in China. As of March 20, the average rebar price in the Chinese market was standing at RMB 3,607/mt ($510.2/mt), up RMB 107/mt ($15.1/mt) from March 10, according to SteelOrbis’ data.
$1 = RMB 7.0692