The China Iron and Steel Association (CISA) has announced that in early November (November 1-10) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China – all CISA members – totaled 2.1461 million mt, down 0.48 percent compared to late October (October 21-31).
In late October (October 21-31) this year the average aggregate daily crude steel output at CISA members was 2.1566 million mt, decreasing by 0.77 percent compared to mid-October.
Inventory levels in the Chinese steel market increased slightly in the given period. As of November 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 12.8473 million mt, increasing by 699,600 mt or 5.76 percent compared to October 31.
As of November 10, the average rebar price in the Chinese market was standing at RMB 4,163/mt ($628/mt) ex-warehouse, edging up by RMB 461/mt ($69.5/mt) or 12.5 percent from October 30, according to SteelOrbis’ data.
$1 = RMB 6.6285