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In late November, the daily crude steel output of CISA members was 1.7169 million mt, down 2.61 percent compared to mid-November (November 11-20).

The production rise has been due to the completion of maintenance works at some big mills and has followed previous reductions, and as a result inventory levels in the Chinese steel market increased in the given period. As of December 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 13.3425 million mt, increasing by 858,200 mt or 6.87 percent compared to November 30.

As of December 10, rebar prices at the Chinese domestic market are standing at RMB 4,880/mt ($766/mt), remaining stable since December 3.