WEEKLY: China's rebar output drops slightly during the holiday

Chinese steel mills' rebar production declined slightly during the country's National Day holiday spanning October 1-7, with the combined tonnage produced by the 137 domestic steelmakers under Mysteel's tracking down by 1.1% or 19,600 tonnes on week to register 1.7 million tonnes, according to Mysteel's latest survey result.

Before the holiday, rebar production among the same surveyed mills rose by 4.2% or 68,800 tonnes on week to 1.72 million tonnes over September 24-30, an increase primarily driven by lower production costs amid falling prices of major steelmaking raw materials. The latest output decline during the holiday was partly