WEEKLY: China’s rebar output, mills stocks reverse down

China’s rebar output from the 137 sampled mills nudged down 0.7% on week over July 30-Agust 5 after just one week of 1.2% on-week gain, which was within market expectation that the country’s weekly rebar output would fluctuate in the near term with the mills’ scheduled short-term maintenance, according to Mysteel’s weekly report.

During the period, these mills produced a total of 3.85 million tonnes, and their rebar rolling capacity utilization rate also reversed down by a similar degree of 0.6 percentage point on week to 84.3% on average, though the operational rate ofthe rebar mills went down more by 2 percentage