According to the data released by CISA (China Iron and Steel Association), Chinese registered steelmakers have contributed a daily crude steel output of 1.65 million tons in late June of this year, decreasing by 0.32% from middle June. Meanwhile, Chinese average daily crude steel output is estimated to stand at 1.965 million tons in late June, just declining by 0.28% versus middle June.
Even though the domestic steel market has entered into a low season, steel mills' capacities are still operating at comparatively high levels. Under this circumstance, we deem that the domestic steel price will continue its weak trend in the near future.