China Iron and Steel Association (CISA) announced that in late May (May 21-31) this year, the total average daily raw steel production of large and medium-sized steel enterprises in China was 2.0954 million tons, down 6.68% compared to mid-May (11 -20 May) this year.
In mid-May this year, the average total daily crude steel production of large and medium-sized steel enterprises in China was 2.2455 million tons, down 0.24% compared with early May (May 1-10) this year.
Inventory levels in China’s steel market decreased on May 31. The final steel inventory of large and medium-sized steel companies in China reached 15.6207 million tons, down 3.96 percent from May 20.
As of May 31, rebar futures on the Shanghai Futures Exchange were at CNY3,463/metric ton ($488/ton), down by CNY182/ton ($25.6/ton), or 5.0%, from May 19 prices.
In late May, steel prices fell amid stagnant demand.
