The China Iron and Steel Association (CISA) has announced that in mid-June (June 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.2579 million mt, down 1.34 percent compared to early June (June 1-10) this year.
In early June, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China totaled 2.2886 million mt, down 1.32 percent compared to late May (May 21-31) this year.
Inventory levels in the Chinese steel market increased in the given period. As of June 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 20.5232 million mt, rising by 10.65 percent compared to June 10.
As of June 20, rebar futures at the Shanghai Future Exchange were standing at RMB 4,149/mt ($618/mt), decreasing by RMB 644/mt ($96/mt) or 13.4 percent since June 10.
$1 = RMB 6.7079