According to the data released by CISA, China's average daily crude steel output is estimated to reach 1.9792 million t in early April. Meanwhile the 76 registered steelmakers will contribute a daily crude steel output of 1.6534 million t, raising by 2.4% compared to the same period of prior month.
On the other hand, as China's booming economy goes on, China's domestic steel industry has emerged a rapid growth and plus the high-remained inventories, in this context China's steel market is anticipated to continue to show an oversupplied condition in the foreseeable future. While the steel price may drop slightly in the upcoming future considering of the coming of the high season for the steel consumption.