According to the data released by CISA (China Iron and Steel Association), Chinese registered steelmakers have contributed a daily crude steel output of 1.6574 million tons in early July of this year, increasing by 0.44% from late June. Meanwhile, Chinese average daily crude steel output is estimated to stand at 1.9581 million tons in early July, keeping almost unchanged versus middle June.
Although China's steel consumption has entered into the traditional low season, mills are still keeping their capacities at comparatively high levels. In this context, it is almost impossible for domestic steel price to emerge an upward trend in the short run.