The China Iron and Steel Association (CISA) has announced that in early January (January 1-10) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.1956 million mt, up 1.51 percent compared to late December (December 21-31).
In late December, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China totaled 2.1629 million mt, down 1.76 percent compared to mid-December (December 11-20).
Inventory levels in the Chinese steel market increased in the given period. As of January 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 13.027 million mt, increasing by 1.4059 million mt or 12.1 percent compared to December 31.
As of January 10, the average rebar price in the Chinese market was standing at RMB 4,463/mt ($691/mt) ex-warehouse, edging up by RMB 46/mt ($7.1/mt) or 1.0 percent from December 31, according to SteelOrbis’ data.
$1 = RMB 6.4633