The China Iron and Steel Association (CISA) has announced that in early July (July 1-10) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.0748 million mt, down 1.98 percent compared to late June (June 21-30) this year.
In late June, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China totaled 2.0991 million mt, down 7.03 percent compared to mid-June (June 11-20) this year.
Inventory levels in the Chinese steel market increased in the given period. As of July 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 18.0479 million mt, rising by 6.49 percent compared to June 30.
As of July 8, rebar futures at the Shanghai Future Exchange were standing at RMB 4,196/mt ($623.5/mt), decreasing by RMB 182/mt ($27/mt) or 4.2 percent since June 30.
$1 = RMB 6.7282