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Production continued to rise steadily as in mid-January output of CISA members was 1.9873 million mt, up 1.05 percent compared to early January.

Inventory levels in the Chinese steel market increased in the given period. As of January 31, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 13.6827 million mt, rising by 0.5325 million mt or 4.05 percent compared to January 20.

As of January 28, rebar prices at the Chinese domestic market were standing at RMB 4,803/mt ($758/mt), remaining stable since January 20.