The China Iron and Steel Association (CISA) has announced that in late August (August 21-31) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.0319 million mt, up 4.56 percent compared to mid-August (August 11-20) this year.
In mid-August, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 1.9963 million mt, up 2.72 percent compared to early August (August 1-10) this year.
Inventory levels in the Chinese steel market decreased in the given period. As of August 31, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 15.943 million mt, decreasing by 8.0 percent compared to August 20.
As of August 31, rebar futures at the Shanghai Future Exchange were standing at RMB 3,677/mt ($534/mt), decreasing by RMB 37/mt ($5.4/mt) or 1.0 percent since August 19.
$1 = RMB 6.9096
