WEEKLY: China's rebar output drops further on week

China's rebar production declined for a fifth consecutive week over August 20-26, with the tonnage produced by the 137 Chinese steelmakers under Mysteel's tracking registering 1.73 million tonnes, dropping by another 4% or 73,000 tonnes on week, according to Mysteel's latest survey result.

Mysteel attributed the steady drop to the maintenance of rebar rolling mills among some steelmakers, as most mills are still suffering deep losses when selling rebars. As such, the rebar rolling capacity utilization rate among the surveyed steel firms dropped further by 1.6 percentage points on week to 37.9%, while