CISA mills’ daily steel output down 1.76% in late Dec, stocks down 10.95%

Thursday, 07 January 2021 12:23:28 (GMT+3)   |   Shanghai
       

The China Iron and Steel Association (CISA) has announced that in late December (December 21-31) last year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.1629 million mt, down 1.76 percent compared to mid-December (December 11-20).

In mid-December, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 2.2016 million mt, down 0.04 percent compared to early December (December 1-10).

Inventory levels in the Chinese steel market decreased sharply in the given period. As of December 31, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 11.6211 million mt, decreasing by 1.4294 million mt or 10.95 percent compared to December 20.

As of December 31, the average rebar price in the Chinese market was standing at RMB 4,417/mt ($684/mt) ex-warehouse, edging down by RMB 136/mt ($21/mt) or 3.0 percent from December 21, according to SteelOrbis’ data.

$1 = RMB 6.4608


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