WEEKLY: China's rebar output pulls back on week

China's rebar production witnessed a mild retreat this week, with the combined output of the 137 Chinese steel mills Mysteel regularly checks declining by 1.9% or 54,800 tonnes on week to 2.13 million tonnes over June 18-24, according to Mysteel's latest survey results.

Dull demand has weighed on the overall market confidence and rebar prices, compressing steelmakers' profitability from selling this long steel item amid firm raw material costs and therefore dampening their production enthusiasm this week. China's national price of HRB400E 20mm dia rebar came in at Yuan 3,317/tonne ($488/t) as of