CISA mills’ daily steel output resumes increase in mid-Sept, stocks up

Wednesday, 23 September 2020 14:10:47 (GMT+3)   |   Shanghai
       

The China Iron and Steel Association (CISA) has announced that in mid-September (September 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.1456 million mt, up 0.42 percent compared to early September (September 1-10).

In early September, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 2.1366 million mt, down 1.09 percent compared to late August (August 21-31).

Inventory levels in the Chinese steel market increased in the given period amid slack demand for steel, which resulted in downward corrections in steel prices. As of September 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 13.4049 million mt, increasing by 135,900 mt or up 1.02 percent compared to September 10.

As of September 21, the average rebar price in the Chinese market was standing at RMB 3,797/mt ($558.4/mt) ex-warehouse, edging down by RMB 26/mt ($3.8/mt) from September 11, according to SteelOrbis’ data.

$1 = RMB 6.7986


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