CISA mills’ daily steel output stabilizes at high level in late Aug, stocks down sharply

Friday, 04 September 2020 14:24:34 (GMT+3)   |   Shanghai
       

The China Iron and Steel Association (CISA) has announced that in late August (August 21-31) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.1602 million mt, down 0.04 percent compared to mid-August (August 11-20).

In mid-August this year, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China totaled 2.161 million mt, up 0.35 percent compared to early August (August 1-10).

Inventory levels in the Chinese steel market decreased in the given period amid better demand for steel with the approach of the traditional peak season. As of August 31, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 12.3696 million mt, decreasing by 1.3555 million mt or 9.88 percent compared to August 20.

As of September 4, the average rebar price in the Chinese market was standing at RMB 3,847/mt ($562/mt) ex-warehouse, edging up by RMB 34/mt ($5/mt) from August 20, according to SteelOrbis’ data.

$1 = RMB 6.8359


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