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China’s daily steel output declines, stocks still rise

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 1.8905 million mt, down 2.66 percent compared to early December (December 1-10).

In early December, the daily steel output of CISA members was 1.9343 million mt, up 12.66 percent compared to late November (November 21-30).

Inventory levels in the Chinese steel market increased in the given period. As of December 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 13.57 million mt, increasing by 227,500 mt or 1.71 percent compared to December 10.

As of December 20, rebar prices at the Chinese domestic market are standing at RMB 4,930/mt ($774/mt), up RMB 50/mt or 1.02 percent since December 10.

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