The China Iron and Steel Association (CISA) has announced that in early December (December 1-10) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.9672 million mt, up just 0.13 percent compared to late November (November 21-30).
Though output was relatively stable, steel demand in the given period was still firm, especially in the flat steel segment, resulted in sizable decreases in inventory levels in the Chinese steel market in the given period. As of December 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 11.2092 million mt, decreasing by 5.09 percent compared to November 30. This followed a 2.43 percent decrease in inventories as of November 30 compared to November 20.
However, the average rebar price in the Chinese domestic market has declined amid the cautious mood prevailing in the rebar market and slacker seasonal demand.
As of December 18, the average rebar price in the Chinese market was standing at RMB 3,910/mt ($558/mt) ew-warehouse, down RMB 157/mt ($22.4/mt) from December 10, while it had decreased by RMB 223/mt ($32/mt) in the December 1-10 period, according to SteelOrbis’ data.