China's major steelmakers reported an average daily crude steel output of 1,626,000 metric tons (tonnes) in January 1-10, up 1.82 percent from that of December 21-31, 2015, according to the China Iron and Steel Association (CISA) on Thursday.
The CISA estimated the country's daily crude steel output in January 1-10 to be 2,054,000 tonnes, up 1.98 percent from that in late December. Entering January, the domestic steel stocks stopped falling.
By mid January, the steel stocks increased to 8.67 million tonnes, up 0.56 percent from those at the end of 2015. The CISA attributed the increase in steel stocks to the soft demand due to the approach of the Spring Festival holiday. It predicted that steel prices in China will remain low in near term.