CISA mills’ daily steel output up 4.6% in mid-August after previous decrease

Wednesday, 25 August 2021 14:15:21 (GMT+3)   |   Shanghai

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 2.14 million mt, up 4.6 percent compared to early August (August 1-10).

This happened after a gradual decline seen since late July. In early August (August 1-10) this year the average aggregate daily crude steel output of all CISA members totaled 2.04 million mt, down 2.97 percent compared to late July (July 21-31).

The hike in crude steel production during the weak demand period resulted in higher inventory levels in the Chinese steel market in the given period. As of August 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 14.93 million mt, increasing by 312,000 mt or 2.13 percent compared to August 10.

As of August 20, the average rebar price in the Chinese market was standing at RMB 5,223/mt ($807/mt) ex-warehouse, down by RMB 104/mt ($16/mt) or 1.95 percent from August 10, according to SteelOrbis’ data. 

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