According to the data released by CISA (China Iron and Steel Association), Chinese registered steelmakers contributed a daily crude steel output of 1.5679 million metric tons in middle February, rising by 0.2% from early February. Meanwhile, Chinese average daily crude steel output was estimated to stand at 1.6992 million metric tons in middle February, down by 0.31% versus early February.
Meanwhile, from last week, the social steel inventories began to roll back gradually, ending the two-month-long constant increases. In detail, the domestic steel stockpiles had aggregated to 18.939 million t till February 24, down 0.3% from prior week.
From the above data, we could feel that the domestic steel demand has begun to rebound gradually and the market situation will turn better in the short run.