SHANGHAI Chinas crude steel output averaged 2.14 million tonnes per day in the first 10 days of August, up 2.7 percent from late July, the China Iron and Steel Association (Cisa) said Aug. 20.
Output by Cisa membersmainly medium-sized and large steel millsincreased 5.5 percent to a daily average of 1.76 million tonnes.
Chinese steelmakers inventories totaled 12.16 million tonnes on Aug. 10, down 1.5 percent from the end of July.
Domestic steel prices have been rallying since mid-June, with rebar prices in eastern China up 12.8 percent to 3,520 to 3,710 yuan ($571 to $602) per tonne at the end of last week.
A version of this article was first published by AMM sister publication Steel First.