WEEKLY: China's rebar output drops by 2% WoW

After mounting for the previous two weeks, the total production of rebars by the 137 Chinese steel mills that Mysteel regularly monitors trended downwards over October 30-November 5 to sit at 2.09 million tonnes, lower by 1.9% or 40,500 tonnes on week, according to Mysteel's latest weekly survey. The total was also lower by 10.8% compared with the same week last year.

During the survey week, the rebar rolling capacity utilization rate and the operational rate among the sampled mills also inched down, dropping by 0.9 percentage points on week to 45.7% and by 2 percentage points on week to 41.3% respectively, another Mysteel survey showed. The profit margins steelmakers enjoyed from