The China Iron and Steel Association (CISA) has announced that in late July (July 21-31) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.8902 million mt, down 7.25 percent compared to mid-July (July 11-20) this year.
In mid-July, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China totaled 2.0379 million mt, down 1.78 percent compared to early July (July 1-10) this year.
Inventory levels in the Chinese steel market decreased in the given period. As of July 31, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 16.5966 million mt, decreasing by 12.79 percent compared to July 20.
As of July 31, rebar futures at the Shanghai Future Exchange were standing at RMB 3,996/mt ($591/mt), rising by RMB 166/mt ($25/mt) or 4.3 percent since July 20.
$1 = RMB 6.7636
