The China Iron and Steel Association (CISA) has announced that in early October (October 1-10) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.8732 million mt, up 5.9 percent compared to late September (September 21-30). This means that steel producers managed to increase output during the holiday period, following strict curbs in late September.
In late September this year the average aggregate daily crude steel output of CISA members totaled 1.7688 million mt, down 11.18 percent compared to mid-September.
Inventory levels in the Chinese steel market rose in the early October period. As of October 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 12.8426 million mt, increasing by 888,200 mt or 7.43 percent compared to September 30.
As of Monday, October 11, rebar futures at the Shanghai Futures Exchange are standing at RMB 5,808/mt ($899/mt), increasing by RMB 102/mt ($9.9/mt) or 1.8 percent since September 30.