The China Iron and Steel Association (CISA) has announced that in late January (January 21-31) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.1766 million mt, down 1.87 percent compared to mid-January (January 11-20).
In mid-January, the average daily steel output of all CISA members totaled 2.2181 million mt, up 1.02 percent compared to early January (January 1-10).
Inventory levels in the Chinese steel market decreased in late January. As of January 31, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 13.7626 million mt, decreasing by 0.2804 million mt or 2.0 percent compared to January 20.
As of January 29, the average rebar price in the Chinese market was standing at RMB 4,357/mt ($674/mt) ex-warehouse, up by RMB 34/mt ($5.3/mt) or 0.8 percent from January 20, according to SteelOrbis’ data.
$1 = RMB 6.4605