Market watcher MySteel has estimated China's crude steel output to drop further in early January.
MySteel estimated the daily average crude steel output during January 1-10 to be 1,945,900 metric tons (tonnes), down 0.36 percent from that of December 21-31, 2015.
In the end of 2015, domestic steel prices rebounded. Despite the profitability improvement, steel mills did not increase production. With the arrival of annual facility overhauls, the country's crude steel output continued to fall in early January, said Mysteel.
By January 11, the Mysteel steel composite index price stood at 74.78, up 6.36 percent month on month.
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