MYSTEEL: China's H2 rebar output to reach 140 million tonnes

China's rebar production is forecast to decline during this quarter compared with the previous quarter, Mysteel predicts in the latest report. Mills in some regions have received oral notices from local authorities regarding power restrictions, the report notes, while the possibility exists for Beijing to formally tell steelmakers that crude steel production this year must not exceed that of last year.

During the present half, China may churn out 140 million tonnes of rebars in total, according to the report. This would compare with Mysteel's estimate for January-June rebar production of 122 million tonnes, higher by 2.5% on year. So far, China has not released official steel production data for June