The China Iron and Steel Association (CISA) has announced that in early November (November 1-10) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.9868 million mt, down 2.09 percent compared to late October (October 21-31) this year.
In late October this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China totaled 2.0291 million mt, down 1.73 percent compared to mid-October (October 11-20) this year.
Inventory levels in the Chinese steel market increased in the given period. As of November 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 16.7218 million mt, rising by 1.51 percent compared to October 31.
As of October 31, rebar futures at the Shanghai Future Exchange were standing at RMB 3,397/mt ($482.5/mt), decreasing by RMB 197/mt ($28.0/mt) or 5.5 percent since October 20.
$1 = RMB 7.1638
