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 1.959 million mt, down 5.72 percent compared to late February (February 21-28) this year.
In late February, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China totaled 2.0907 million mt, up 15.57 percent compared to mid-February (February 11-20) this year.
Inventory levels in the Chinese steel market increased in early March. As of March 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 16.682 million mt, rising by 581,300 mt or 3.61 percent compared to February 28.
As of March 10, rebar futures at the Shanghai Future Exchange are standing at RMB 4,896/mt ($767.4/mt), increasing by RMB 203/mt ($31.8/mt) or 4.3 percent since February 28.
