The China Iron and Steel Association (CISA) has announced that in mid-March (March 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.2136 million mt, down 1.46 percent compared to early March (March 1-10).
In early March, the average aggregate daily crude steel output of CISA members totaled 2.2713 million mt, down 2.08 percent from late February (February 21-28).
Inventory levels in the Chinese steel market also decreased in the given period. As of March 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 17.5089 million mt, decreasing by 0.375 million mt or 2.1 percent compared to March 10.
As of March 20, the average rebar price in the Chinese market was standing at RMB 4,717/mt ($723/mt) ex-warehouse, up by RMB 24/mt ($3.7/mt) or 0.51 percent from March 10, according to SteelOrbis’ data.
$1 = RMB 6.5228