WEEKLY: China's rebar output hits 9.5-mth high

China's rebar production picked up further this week, as Mysteel's latest survey among the 137 steel mills indicated that their combined output of the long steel item during the week of May 14-20 rose by 9.8% or 197,400 tonnes on week to register 2.21 million tonnes, the highest level since early August last year.

During the survey week, the rebar rolling capacity utilization rate among these sampled mills averaged 48.5% during the same period, higher by 4.3 percentage points on week, while the average operational rate also gained by 1 percentage point on week to 42%. Some steelmakers ramped up rebar production by allocating