The China Iron and Steel Association (CISA) has announced that in late September (September 21-30) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.1887 million mt, up 2.01 percent compared to mid-September (September 11-20).
In mid-September, the average daily crude steel output of CISA members was 2.1456 million mt, up 0.42 percent compared to early September (September 1-10).
Inventory levels in the Chinese steel market decreased significantly in late September amid stock replenishments ahead of the long National Day holiday (October 1-8). As of September 30, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 11.5961 million mt, decreasing by 1.8087 million mt or down 13.49 percent compared to September 20.
As of September 30, the average rebar price in the Chinese market was standing at RMB 3,777/mt ($555/mt) ex-warehouse, edging down by RMB 20/mt ($3.0/mt) from September 21, according to SteelOrbis’ data.
$1 = RMB 6.7126