The China Iron and Steel Association (CISA) has announced that in early May (May 1-10) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.11 million mt, up 3.6 percent compared to late April (April 21-30) this year.
In late April, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 2.036 million mt, down 3.6 percent compared to mid-April (April 11-20) this year.
Inventory levels of the large and medium-sized steel enterprises in China also increased in the given period. As of May 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 16.88 million mt, increasing by 9.4 percent compared to April 30. The rise in inventory levels was faster than the increase in daily crude steel output in the given period, due to the negative impact of the Labor Day holiday (May 1-5), which resulted in slack demand from downstream users.