WEEKLY: China's rebar output declines for the 4th week

China's rebar production extended its decline for the fourth consecutive week, with the tonnage produced by the 137 domestic steel mills under Mysteel's coverage edging down by another 1.2% or 21,700 tonnes on week to sit low at 1.8 million tonnes by August 19, according to Mysteel's latest survey result.

One reason behind the latest decline in rebar output could be elevated input costs, which persistently squeezed steelmakers' profitability on rebar sales, pushing some mills to conduct maintenance at their steelmaking facilities or channel more hot metal to other lines producing hot-rolled coils, steel sections or specialty steel items,