The average capacity utilization rate of South Korean rebar mills stayed at 62 percent in July, a drop of 4.3 percentage points from 66.3 percent in the preceding month and a fall of 6.4 percentage points from 68.4 percent in the same month last year.
South Korean rebar mills produced 651,179 mt of rebars in July, and thus the actual decrease in the monthly output from the year-earlier record of 663,650 mt was a mere 12,000 mt, but the drop from a year ago in the average monthly capacity utilization rate of local rebar mills was quite large, as their overall production capacity has been significantly upgraded this year.
Such a steep fall from a year ago in the average monthly capacity utilization rate of local rebar mills in July resulted from the earlier-than-usual full-scale commencement of their summer facility repair works this year. Most local steelworks began repairing their rebar mills on July 25.
Meanwhile, the average capacity utilization rate of South Korean rebar mills is expected to be 59.2 percent in August.