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In late May this year, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 2.3193 million mt, up 0.88 percent compared to mid-May (May 11-20).

Inventory levels in the Chinese steel market increased in the given period. As of June 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 18.5475 million mt, rising by 3.37 percent compared to May 31.

As of June 10, rebar futures at the Shanghai Future Exchange were standing at RMB 4,803/mt ($716/mt), rising by RMB 119/mt ($17.7/mt) or 2.54 percent since May 31.