The China Iron and Steel Association (CISA) has announced that in early April (April 1-10) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.892 million mt, up 4.4 percent compared to late March (March 21-31) this year.
In late March, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had amounted to 1.992 million mt, down 1.7 percent compared to mid-March (March 11-20) this year.
Inventory levels of the large and medium-sized steel enterprises in China increased in the given period. As of April 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 17.51 million mt, increasing by 5.9 percent compared to March 31.
In early April, the increased steel output of large and medium-sized steel enterprises in China signaled the increasing supply of steel to the market, while inventories indicated bigger rises, reflecting the sluggish demand from downstream users, resulting in oversupply and negatively affecting steel prices in the given period.