The China Iron and Steel Association (CISA) has announced that in mid-August (August 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.9963 million mt, up 2.72 percent compared to early August (August 1-10) this year.
In early August, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China totaled 1.9433 million mt, up 2.81 percent compared to late July (July 21-31) this year.
Inventory levels in the Chinese steel market increased in the given period as demand has failed to improve. As of August 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 17.3292 million mt, increasing by 1.64 percent compared to August 10.
As of August 19, rebar futures at the Shanghai Future Exchange were standing at RMB 3,929/mt ($574/mt), decreasing by RMB 137/mt ($20/mt) or 3.4 percent since August 10.