The China Iron and Steel Association (CISA) has announced that in late August (August 21-31) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.0527 million mt, down 3.99 percent compared to mid-August (August 11-20). The implementation of production restrictions at mills has started to be more visible.
In mid-August this year, CISA members’ average daily crude steel output was 2.1379 million mt, up 4.6 percent compared to early August (August 1-10).
Inventory levels in the Chinese steel market decreased in the given period. As of August 31, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 13.4271 million mt, decreasing by 1.5071 million mt or 10.09 percent compared to August 20.
As of August 30, the average rebar price in the Chinese market was standing at RMB 5,293/mt ($819/mt) ex-warehouse, up by RMB 70/mt ($11/mt) or 1.34 percent from August 20, according to SteelOrbis’ data.