The China Iron and Steel Association (CISA) has announced that in mid-January (January 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.2181 million mt, up 1.02 percent compared to early January (January 1-10).
In early January, the average daily steel output of all CISA members totaled 2.1956 million mt, up 1.51 percent compared to late December (December 21-31).
Inventory levels in the Chinese steel market increased in the given period as demand slackened in the offseason, while the worsening of the Covid-19 pandemic also impacted consumption. As of January 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 14.0431 million mt, increasing by 1.0161 million mt or 7.8 percent compared to January 10.
As of January 20, the average rebar price in the Chinese market was standing at RMB 4,323/mt ($669/mt) ex-warehouse, down by RMB 140/mt ($21.7/mt) or 3.14 percent from January 10, according to SteelOrbis’ data.