The China Iron and Steel Association (CISA) has announced that in mid-December (December 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.9399 million mt, down 1.39 percent compared to early December (December 1-10).
The declines in output in the given period resulted in declines in inventory levels in the Chinese steel market in the same period. As of December 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 11.0091 million mt, decreasing by 1.79 percent compared to December 10. This followed a 5.09 percent decrease in inventories as of December 10 compared to November 30.
However, the average rebar price in the Chinese domestic market has followed an overall downtrend amid the cautious mood prevailing in the rebar market.
As of December 27, the average rebar price in the Chinese market was standing at RMB 3,813/mt ($546.2/mt), down RMB 97/mt ($14.0/mt) from December 18, while it had decreased by RMB 164/mt ($23.5/mt) or four percent in the December 11-20 period, according to SteelOrbis’ data.