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In late April this year, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China had totaled 2.3587 million mt, up 5.5 percent compared to mid-April (April 11-20) this year.

Inventory levels in the Chinese steel market increased in the given period. As of May 10, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 18.7485 million mt, rising by 3.65 percent compared to April 30.

As of May 10, rebar futures at the Shanghai Future Exchange were standing at RMB 4,607/mt ($677.5/mt), decreasing by RMB 303/mt ($44.6/mt) or 6.2 percent since April 30.