WEEKLY: China's rebar output recovers slightly on week

Rebar production among Chinese steel mills rebounded slightly over the week of October 8-14, with the combined tonnage produced by the 137 domestic steelmakers under Mysteel's tracking rising by 2.1% or 36,200 tonnes on week to register 1.74 million tonnes, according to Mysteel's latest survey result.

Several steelmakers redirected some hot metal to produce more rebars as flat steel products faced relatively high inventory pressures, softening their prices, Mysteel explained in its weekly roundup. As such, rebar capacity utilization among the 137 sampled mills recovered by 0.6 percentage points on week to average 38.1% during October