The China Iron and Steel Association (CISA) has announced that in late February (February 21-28) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.2202 million mt, up 6.09 percent compared to mid-February (February 11-20) this year.
in mid-February, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China totaled 2.0928 million mt, up 1.49 percent compared to early February (February 1-10) this year.
In late February, the steel outputs of major Chinese steelmakers, including Baowu Group, Hunan Iron and Steel Group, Anyang Iron and Steel Group, Beijing-based Jianlong Group and others rose significantly compared to mid-February, contributing to the higher average daily crude steel output in the given period.
Inventory levels in the Chinese steel market decreased in the given period. As of February 28, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 17.4199 million mt, decreasing by 10.8 percent compared to February 20.
As of February 28, rebar futures at the Shanghai Future Exchange were standing at RMB 4,174/mt ($605.4/mt), decreasing by RMB 10/mt ($1.5/mt) or 0.2 percent since February 20.