NBS: China's Q1 rebar output slips 9.5% YoY

In the first quarter of 2024, China produced 50.02 million tonnes of rebar in total, lower by 9.5% on year, according to the latest data from the country's National Bureau of Statistics (NBS) on April 17. For March alone, the country's rebar output declined by a larger 22.5% on year to 17.79 million tonnes, the data found.

The on-year fall in rebar output last month was mainly because many domestic blast-furnace steelmakers had curtailed their production of the long steel item on profit losses amid the drop in spot rebar prices, sources said. Mysteel's survey of the rebar rolling capacity utilization among the 137 Chinese steel mills