CISA mills’ daily steel output down further in late Nov, stocks fall 4.36%

Wednesday, 08 December 2021 13:33:26 (GMT+3)   |   Shanghai

The China Iron and Steel Association (CISA) has announced that in late November (November 21-30) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.7169 million mt, down 2.61 percent compared to mid-November (November 11-20).

In mid-November, the steel output of CISA members totaled 1.7628 million mt, down 2.04 percent compared to early November, indicating the steady declines in the market.

In addition to lower supply, demand was also relatively firm, resulting in inventory levels in the Chinese steel market decreased again in the given period. As of November 30, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 12.4843 million mt, decreasing by 1.4429 million mt or 4.36 percent compared to November 20.

As of December 3, rebar prices at the Chinese domestic market were standing at RMB 4,880/mt ($766/mt), increasing by RMB 133/mt ($21/mt) or 2.8 percent since November 19.

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