The China Iron and Steel Association (CISA) has announced that in early March (March 1-10) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.2713 million mt, down 2.08 percent compared to late February (February 21-28).
In late February, the average aggregate daily crude steel output of CISA members had totaled 2.3195 million mt, up 0.85 percent from mid-February (February 11-20).
Despite lower production numbers, inventory levels in the Chinese steel market increased sharply in early March. As of March 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 17.8839 million mt, increasing by 1.473 million mt or 8.98 percent compared to February 28.
As of March 10, the average rebar price in the Chinese market was standing at RMB 4,693/mt ($722/mt) ex-warehouse, up by RMB 3/mt ($0.46/mt) or 0.06 percent from February 26, according to SteelOrbis’ data.