Major Chinese steel mills' daily finished steel output declines in early May

Major Chinese steel mills produced around 19.42 million tonnes of finished steel in the first ten days of May, with an average daily output of 1,942,000 tonnes, down 9.9% from late April, according to China Iron & Steel Association (CISA).

By the end of the period, finished steel inventories at major mills were 16.88 million tonnes, an increase of 1.45 million tonnes, or 9.4%, from ten days earlier.