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China key steel mills daily output down 2.2pct in late-May

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Publish time: 11th June, 2015      Source: www.cnchemicals.com
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Daily crude steel output of key Chinese steel producers fell 2.21% from ten days ago to 1.766 million tonnes over May 20-31, showed data from the China Iron and Steel Association (CISA).China’s total daily output during the same period was estimated at 2.228 million tonnes, down 2.49% from ten days ago.The decline was mainly due to persisting weak demand from downstream sectors amid a supply glut in domestic market.As of May 31, total stocks in key steel mills stood at 15.83 million tonnes, down 4.45% from ten days ago.During May 25-31, the price of domestic steel products dropped 0.7% from the previous week, with rebar prices down 1%, showed data from the Ministry of Commerce.