The China Iron and Steel Association (CISA) has announced that in late December (December 20-31) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.0922 million mt, up 10.67 percent compared to mid-December (December 11-20).
In mid-December, the production of CISA members was 1.8905 million mt, down 2.66 percent compared to early December.
Inventory levels in the Chinese steel market decreased in the given period despite the rise in production. As of December 31, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 11.2969 million mt, decreasing by 2.2731 million mt or 16.75 percent compared to December 20.
As of December 31, rebar prices at the Chinese domestic market were standing at RMB 4,747/mt ($745/mt), down RMB 183/mt or 3.71 percent since December 20.