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In early July, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China totaled 2.0748 million mt, down 1.98 percent compared to late June (June 21-30) this year.

Inventory levels in the Chinese steel market increased in the given period. As of July 20, the finished steel inventories of large and medium-sized steel enterprises in China amounted to 19.0313 million mt, rising by 5.45 percent compared to July 10.

As of July 20, rebar futures at the Shanghai Future Exchange were standing at RMB 3,830/mt ($567/mt), decreasing by RMB 219/mt ($32.4/mt) or 5.4 percent since July 11.