According to the data released by CISA (China Iron and Steel Association), Chinese registered steelmakers have contributed a daily crude steel output of 1.6122 million tons in late May of this year, decreasing by 4.72% from middle May. Meanwhile, Chinese average daily crude steel output is estimated to stand at 1.9596 million tons in late May, declining by 3.92% versus middle May.
From the above data, we could see that that the domestic daily steel output is still remaining at comparatively high levels. In this context, we deem that the market pressure is still serious in the near future.