According to the data released by CISA (China Iron and Steel Association), Chinese registered steelmakers have contributed a daily crude steel output of 1.651 million tons in middle July of this year, decreasing by 0.38% from early June. Meanwhile, Chinese average daily crude steel output is estimated to stand at 1.933 million tons in middle July, up 1.8% versus middle July.
From the above data, we could see that even though China's giant steelmakers have curtailed their production unanimously, the domestic middle and small sized steelmakers' capacities are hovering around comparatively high levels, which is definitely abnormal for Chinese steel market.
Given to the maintenance activities in July and August, we deem that the domestic daily crude steel will inch down gradually in the near future.