China's daily steel production rose 2.61% in late January

China Iron and Steel Association (CISA) announced that the average total daily raw steel production of large and medium-sized steel enterprises in China in mid-January (January 21-31) of this year totalled 1.9872 million tonnes, up 2.61% compared to mid-January (January 11-20) this year. In mid-January this year, the average total daily raw steel production of large and medium-sized steel enterprises reached 1.9366 million tonnes, up 0.57% from early January (January 1-10). Inventory levels in China's steel market rose as of January 31, with the final steel inventory of large and medium-sized steel companies in China reaching 16.487 million tonnes, up 2.6 per cent from January 20. As of January 31, rebar futures on the Shanghai Futures Exchange were at 4,143 Yuan/t ($610/t), down 36 Yuan/t ($5.3/t) or 0.86 per cent since January 20. 1 dollar = 6.7884 Yuan