The China Iron and Steel Association (CISA) has announced that in late November (November 21-30) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.0285 million mt, up 1.32 percent compared to mid-November (November 11-20) this year.
In mid-November, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China totaled 2.002 million mt, up 0.76 percent compared to early November (November 1-10) this year. Before this, the output had been declining.
Inventory levels in the Chinese steel market declined in the late November period despite rises in production. As of November 30, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 15.3039 million mt, decreasing by 11.54 percent compared to November 20.
As of November 30, rebar futures at the Shanghai Future Exchange were standing at RMB 3,748/mt ($537.7/mt), rising by RMB 77/mt ($11/mt) or 2.1 percent since November 21.