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In early May this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 2.3053 million mt, down 2.26 percent compared to late April (April 21-30) this year.

Inventory levels in the Chinese steel market increased in the given period. As of May 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 19.9774 million mt, rising by 6.55 percent compared to May 10.

As of May 20, rebar futures at the Shanghai Future Exchange were standing at RMB 4,670/mt ($702/mt), rising by RMB 63/mt ($9.5/mt) or 1.37 percent since May 10.