The China Iron and Steel Association (CISA) has announced that in mid-November (November 11-20) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.9962 million mt, up 0.44 percent compared to early November (November 1-10).
The good demand in the given period amid higher output resulted in decreases in inventory levels in the Chinese steel market in the given period. As of November 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 12.104 million mt, decreasing by 1.33 percent compared to November 10. This followed a 7.31 percent increase in inventories as of November 10 compared to October 31.
As of December 6, the average rebar price in the Chinese market was standing at RMB 4,060/mt, up RMB 130/mt ($18.5/mt) from November 11, while the average price increased by RMB 343/mt ($48.8/mt) or 8.7 percent in the November 11-20 period, according to SteelOrbis’ data.