OREANDA-NEWS. December 05, 2011. CISA estimated domestic crude steel output in November 10-20 at 1.66 million tons per day, about the same as the previous ten days. Output of its member producers surveyed was 1.48 million tons.

Domestic mills began to reduce output from the middle of October due to weakening end-user demands. This acted as a foundation for resilience in steel prices in November.

Negative and positive factors are intertwined. Low inventory and expectations of easing policy have been compounded by weaker demand and credit strains. A minor price movement would be anticipated in the short term.