The China Iron and Steel Association (CISA) has announced that in late May (May 21-31) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 2.3193 million mt, up 0.88 percent compared to mid-May (May 11-20) this year.
In mid-May this year, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 2.2991 million mt, down 0.27 percent compared to early May (May 1-10) this year.
Inventory levels in the Chinese steel market decreased in the given period. As of May 31, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 17.9424 million mt, decreasing by 10.19 percent compared to May 20.
As of May 31, rebar futures at the Shanghai Future Exchange were standing at RMB 4,684/mt ($699/mt), rising by RMB 14/mt ($2/mt) or 0.3 percent since May 20.
$1 = RMB 6.6649