The China Iron and Steel Association (CISA) has announced that in mid-June (June 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.3954 million mt, up 2.57 percent compared to early June (June 1-10).
In early June, the average aggregate daily crude steel output of CISA members totaled 2.3353 million mt, up 2.15 percent compared to late May (May 21-31).
Inventory levels in the Chinese steel market increased in the given period. As of June 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 15.697 million mt, increasing by 1.4673 million mt or 10.31 percent compared to June 10.
As of June 21, the average rebar price in the Chinese market was standing at RMB 4,950/mt ($766/mt) ex-warehouse, down by RMB 183/mt ($28.3/mt) or 3.6 percent from June 11 due to the slack demand during the rainy offseason, according to SteelOrbis’ data.