The China Iron and Steel Association (CISA) has announced that in early September (September 1-10) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.924 million mt, up 2.0 percent compared to late August (August 21-31) this year.
In late August, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 1.885 million mt, down 4.0 percent compared to mid-August (August 11-20) this year.
Inventory levels of the large and medium-sized steel enterprises in China also increased in the given period. As of September 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 16.52 million mt, increasing by 1.7 percent compared to August 31.
The average aggregate daily crude steel output rose by 2.0 percent in early September, indicating that the brief supply-side contraction had come to an end, with steel mills increasing production at a faster pace than the recovery of demand .
As previously reported by SteelOrbis, with China's steel industry showing characteristics of oversupply and of weak demand from downstream users even entering the traditional peak season of September, the China Iron and Steel Association (CISA) has called on domestic producers to control production and to aim to reduce inventories.
CISA has urged Chinese steelmakers to strictly implement production controls and exercise greater self-discipline in curbing output and reducing inventories, according to a statement posted on its WeChat account on September 15.
