CISA mills’ daily steel output up further in early May, stocks increase by 9.47 percent

Thursday, 13 May 2021 09:43:43 (GMT+3)   |   Shanghai

The China Iron and Steel Association (CISA) has announced that in early-May (May 1-10) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.4178 million mt, up 0.75 percent compared to late April (April 21-30).

In mid-April, the average aggregate daily crude steel output of CISA members totaled 2.3998 million mt, up 3.25 percent compared to mid-April (April 11-20).

However, inventory levels in the Chinese steel market have posted some increase in contrast to previous falls. As of May 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 14.6838 million mt, increasing by 1.27 million mt or 9.47 percent compared to April 30.

As of May 10, the average rebar price in the Chinese market was standing at RMB 6,197/mt ($959/mt) ex-warehouse, up by RMB 950/mt ($147/mt) or 18.1 percent from April 30, according to SteelOrbis’ data.

$1 = RMB 6.4612

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