HRC Output Continued to Increase After Maintenance of Steel Mills Ended

SHANGHAI, Apr 11 (SMM) - The output of rebar dropped 10,000 mt from the previous week, a drop of 0.3%; the output of HRC rose 81,000 mt, an increase of 2.56%.

In terms of rebar, the sharp drop in spot prices weighed on the profits of steel mills. As such, EAF-based steel mills reduced production and BF-based steel mills were also unwilling to increase production. Subject to poor profits, rebar output is unlikely to increase significantly in the short term. In terms of HRC, even with the overhaul of some steel mills in central China, the HRC output increased on the week as the maintenance in north and south China ended. The HRC output will remain high in April.