The China Iron and Steel Association (CISA) has announced that in mid-February (February 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.0928 million mt, up 1.49 percent compared to early February (February 1-10) this year.
In early February this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China totaled 2.0621 million mt, up 3.77 percent compared to late January (January 21-31) this year.
The steel output continued to increase amid improved demand from downstream users due to the resumption of construction activities and production.
Inventory levels in the Chinese steel market increased in the given period. As of February 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 19.53 million mt, rising by 8.32 percent compared to February 10.
As of February 20, rebar futures at the Shanghai Future Exchange were standing at RMB 4,184/mt ($590/mt), rising by RMB 110/mt ($15.9/mt) or 2.7 percent since February 10.
$1 = RMB 6.8942
