CISA mills’ daily steel output down 0.77% in Oct 21-31 despite good demand

Thursday, 05 November 2020 13:53:55 (GMT+3)   |   Shanghai
       

The China Iron and Steel Association (CISA) has announced that in late October (October 21-31) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.1566 million mt, down 0.77 percent compared to mid-October (October 11-20). This was due to production restrictions in the north aimed at reducing pollution. Also, a number of mills had planned maintenance works.

In mid-October (October 11-20) this year the average aggregate daily crude steel output of CISA members totaled 2.1733 million mt, up 0.14 percent from early October.

At the same time, demand was good in late October, which resulted in lower inventories. As of October 31, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 12.1478 million mt, decreasing by 1.5419 million mt or 11.26 percent compared to October 20.

As of October 30, the average rebar price in the Chinese market was standing at RMB 3,897/mt ($582/mt) ex-warehouse, edging up by RMB 54/mt ($8/mt) from October 20, according to SteelOrbis’ data.

$1 = RMB 6.6895


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