WEEKLY: China's rebar output rebounds on week

China's rebar production rebounded over June 25-July 1 after a brief decline last week, with combined output of the 137 Chinese steel mills under Mysteel's coverage rising by 1.5% or 52,500 tonnes on week to 2.17 million tonnes, the latest survey showed.

Higher deliveries to traders ended the four-week accumulation of mills' rebar inventories, which helped lift steelmakers' production enthusiasm to some extent in the near term, Mysteel Global noted. Rebar stocks held by the sampled 137 mills stood at 1.93 million tonnes as of July 2, down 1.6% or 31,900 tonnes