The China Iron and Steel Association (CISA) has announced that in late July (July 21-31) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.1724 million mt, up 1.59 percent compared to mid-July (July 11-20). At the same time, the volume was even higher than the record level of 2.14 million mt registered in the June 1-20 period.
In mid-July this year, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China totaled 2.1384 million mt, up 0.36 percent compared to early July (July 1-10).
Inventory levels in the Chinese steel market decreased in late July following the end of the rainy season. As of July 31, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 13.1314 million mt, decreasing by 1.2504 million mt or 8.69 percent compared to July 20.
As of July 31, the average rebar price in the Chinese market was standing at RMB 3,783/mt ($542/mt) ex-warehouse, edging up by RMB 10/mt ($1.4/mt) from July 21, according to SteelOrbis’ data.