The China Iron and Steel Association (CISA) has announced that in mid-February (February 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.2824 million mt, up 3.49 percent compared to early February (February 1-10).
In early February the average aggregate daily crude steel output of CISA members totaled 2.1544 million mt, down 1.02 percent from late January (January 21-31).
Inventory levels in the Chinese steel market increased sharply in mid-February due to the holiday period. As of February 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 17.5473 million mt, increasing by 3.0791 million mt or 21.28 percent compared to February 10.
As of February 19, the average rebar price in the Chinese market was standing at RMB 4,557/mt ($705/mt) ex-warehouse, up by RMB 204/mt ($31.6/mt) or 4.7 percent from February 10, according to SteelOrbis’ data.
$1 = RMB 6.4615