CISA mills’ daily steel output and stocks relatively stable in mid-Oct after previous hike

Tuesday, 26 October 2021 11:16:01 (GMT+3)   |   Shanghai

The China Iron and Steel Association (CISA) has announced that in mid-October (October 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.8747 million mt, up just 0.08 percent compared to early October (October 1-10).

In early October this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 1.8732 million mt, up 5.9 percent compared to late September (September 21-30).

Inventory levels in the Chinese steel market were almost stable in mid-October, showing just a tiny increase in the given period. As of October 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 12.8465 million mt, increasing by 3,900 mt or 0.03 percent compared to October 10.

As of Monday, October 20, rebar futures at the Shanghai Futures Exchange were standing at RMB 5,304/mt ($829.5/mt), decreasing by RMB 504/mt ($79/mt) or 8.7 percent since October 10.

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