Major Chinese steel mills' daily steel product output slides in early May

Major Chinese steel mills produced around 20.83 million tonnes of finished steel products during the initial ten-day period of May, when the daily output was 2,083,000 tonnes, down by 8.4% from late April, according to China Iron & Steel Association (CISA).

By the end of the period, major Chinese steel mills held finished steel products inventory of around 16.06 million tonnes, an increase of 770,000 tonnes or 5.0% compared with late April.