CISA mills’ daily steel output up 0.85% in late Feb after 3.49% rise in mid-Feb

Thursday, 04 March 2021 14:50:30 (GMT+3)   |   Shanghai

The China Iron and Steel Association (CISA) has announced that in late February (February 21-28) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.3195 million mt, up 0.85 percent compared to mid-February (February 11-20). At the same time, the finished steel output increased by a higher pace in the given period, up 11.52 percent from mid-February.

In mid-February, the crude steel output of CISA members had posted a strong increase of 3.49 percent from early February (February 1-10) to 2.2824 million mt.

Inventory levels in the Chinese steel market dropped in the late February period. As of February 28, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 16.4108 million mt, decreasing by 1.1365 million mt or 6.48 percent compared to February 20.

As of February 26, the average rebar price in the Chinese market was standing at RMB 4,690/mt ($724/mt) ex-warehouse, up by RMB 133/mt ($31.6/mt) or 2.9 percent from February 19, according to SteelOrbis’ data, amid improved demand.

$1 = RMB 6.4758

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