The China Iron and Steel Association (CISA) has announced that in mid-April (April 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.9515 million mt, up 0.29 percent compared to early April (April 1-10). Over the previous 10-days period the output increased by 6.51 percent.
The inventory levels in the Chinese steel market have seen slight declines due to the rising output and the improved demand. As of April 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 17.4203 million mt, decreasing by 2.96 percent compared to April 10.
Average rebar price in the Chinese domestic market has moved up first while edged down later due to the sharp declines in crude oil prices in international market negatively impacting the commodity prices. As of April 21, the average rebar price in the Chinese market was standing at RMB 3,560/mt ($503.4/mt) ex-warehouse, moving sideways from April 10, according to SteelOrbis’ data.