The China Iron and Steel Association (CISA) has announced that in mid-October (October 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.0649 million mt, down 2.03 percent compared to early October (October 1-10) this year.
In early October this year, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 2.1077 million mt, down 1.11 percent compared to late September this year.
Inventory levels in the Chinese steel market declined in the given period. As of October 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 17.7184 million mt, increasing by 8.59 percent compared to October 10.
As of October 20, rebar futures at the Shanghai Future Exchange were standing at RMB 3,594/mt ($502/mt), decreasing by RMB 281/mt ($39.2/mt) or 7.25 percent since October 10.
$1 = RMB 7.1638
