Rebar Output Increased Further amid Rising Operating Rates of EAF and BF Steel Mills.

SHANGHAI, Mar 7 (SMM) - With production resumption of BF-based steel mills and ramp-up of EAF-based steel mills in east and central China, the overall supply of rebar rose slightly. Looking at the follow-up stage, the steel scrap demand from some independent EAF steel mills in some areas has picked up, implying further increase in short-term supply. Meanwhile, the current slow capacity ramp-up of BF steel mills is expected to lead to mild growth in rebar output. In terms of HRC, the HRC output fluctuated within a narrow range last week and is unlikely to experience sharp changes in the follow-up stage as steel mills are plagued by weak demand.