WEEKLY: China's rebar output drops to intra-year low

China's weekly rebar production dropped to the lowest level this year during September 17-23, with the tonnage produced by the 137 Chinese steelmakers under Mysteel's tracking dropping by 5% or 87,200 tonnes on week to 1.65 million tonnes, according to Mysteel's latest survey result.

The drop on-year was lower by a larger 19.9% and was the domestic steelmakers' response to the negative margins they're earning on steel sales when their input costs are rising, Mysteel Global noted. Meanwhile, another Mysteel survey showed that the capacity utilization of rebar mills among the surveyed steelmakers had