CISA mills’ daily output stops increasing in late June, stocks decline

Monday, 06 July 2020 11:16:07 (GMT+3)   |   Shanghai
       

The China Iron and Steel Association (CISA) has announced that in late June (June 21-30) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.1421 million mt, practically stable being down just 0.01 percent compared to mid-June (June 11-20). In mid-June, the average aggregate daily crude steel output of the steel enterprises in question had totaled 2.1423 million mt, up 1.57 percent compared to early June (June 1-10).

Inventory levels in the Chinese steel market decreased in the given period. As of June 30, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 13.6155 million mt, decreasing by 6.87 percent compared to June 20.

The average rebar price in the Chinese domestic market has recently declined as the rainy weather and floods have negatively affected construction activities. As of July 3, the average rebar price in the Chinese market was standing at RMB 3,710/mt ($525/mt) ex-warehouse, edging down by RMB 17/mt ($2.4/mt) from June 23, according to SteelOrbis’ data.

$1 = RMB 7.0663


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