WEEKLY: China's rebar output drops to 6-month low

China's rebar production declined for a sixth consecutive week over August 27-September 2, with the tonnage produced by the 137 Chinese steelmakers under Mysteel's tracking dipping to 1.7 million tonnes, dropping by another 1.8% or 31,500 tonnes on week and marking the lowest level in the past six months, according to Mysteel's latest survey result.

Mysteel attributed the production decline to less hot metal being allocated to rebar production and to maintenance stoppages on bar mills. In addition, the losses on steel sales being borne by blast furnace (BF) mills showed no signs of recovering during the week, weakening the mills' interest in producing rebars,