The China Iron and Steel Association (CISA) has announced that in mid-July (July 11-20) this year, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.0176 million mt, up 0.2 percent compared to early July (July 1-10). During the previous period - in early July - the average aggregate daily crude steel output had declined by 0.65 percent, which means that the production decline switched to an increase in mid-July, thereby contributing to the oversupplied market.
The output increase resulted in the in inventory levels in the Chinese steel market. As of July 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 12.6503 million mt, increasing by 2.77 percent compared to July 10.