The China Iron and Steel Association (CISA) has announced that in early January (January 1-10) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.9678 million mt, up 4.52 percent compared to late December (December 21-31).
Finished steel inventories in China have indicated big rises amid increases in output. As of January 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 10.5022 million mt, increasing by 10.17 percent compared to December 31. This followed a 13.41 percent decrease in inventories as of December 31 compared to December 20.
The average rebar price in the Chinese domestic market decreased slightly in early January and has subsequently moved sideways due to quiet activities ahead of the Chinese New Year holiday.
As of January 20, the average rebar price in the Chinese market was standing at RMB 3,840/mt ex-warehouse, remaining stable compared to January 13, while it had decreased by RMB 7/mt ($1/mt) or 0.18 percent in the January 1-10 period, according to SteelOrbis’ data.
