The China Iron and Steel Association (CISA) has announced that in mid-May (May 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.0804 million mt, up 1.4 percent compared to early May (May 1-10).
The inventory levels in the Chinese steel market have seen slight rises due to the increasing output. As of May 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 14.8832 million mt, increasing by 1.51 percent compared to May 10.
Average rebar price in the Chinese domestic market has edged up due to the rising rebar futures prices, increasing raw material prices and firm demand. As of May 22, the average rebar price in the Chinese market was standing at RMB 3,737/mt ($525/mt), moving up by RMB 127/mt ($17.9/mt) from May 11, according to SteelOrbis’ data.
$1=RMB 7.1209