Chinese rebar output rose nearly 4 percent in June

The latest statistics released by China's National Bureau of Statistics (NBS) indicate that rebar production in the country had a modest surge during the month of June this year, compared to the previous month.

According to the NBS, China's rebar production totaled 19.04 million tonnes in June 2014, up 3.6 percent from the rebar output in May. The average daily output of rebar in the country amounted to 634667 tons, which is 7.0 percent higher compared to the previous month. The factories have reportedly increased production to meet growing seasonal demand.

Rebar production in the first six months of this year was 106.64 million tonnes, almost 10.8 percent higher than production in the corresponding six months in 2013.

Meanwhile, the average price of 16-25 mm HRB 400 rebar decreased slightly by 0.6 percent at the end of July. Large manufacturers have decided to keep prices for rebar and long products unchanged for now. The companies also announced that the purchase price of scrap steel remains unchanged in the near term.

According to the company's press release by Feng Hsin, rebar prices will remain at NT $ 17,900 per tonne. Steel bar prices will continue to remain in the range from NT $ 19,700 per tonne to NT $ 19,900 per tonne. Purchase prices for scrap metal remain at NT $ 10,300 per tonne.