Beijing August 26 (QNA) - China's major steel mills' inventories rose to their highest level since May by mid-August, data from the China Iron and Steel Association showed on Monday.

Steel stockpiles at mills reached 16.5 million tons, up 3.48% from the beginning of the month, the highest level since May.

The current inventory is 1.1% lower than in the same period in 2023, Bloomberg reported.

Meanwhile, daily crude steel output at major Chinese companies in mid-August fell 0.5% from the beginning of the month to 1.99 million tons per day.

On the other hand, stockpiles at non-steel metal mills in the country fell to 10.2 million tons in mid-August. (QNA)