Beijing-based Chinese steelmaker Shougang Group has announced that on July 3 its output of 12 mm diameter rebar at its long steel plant increased to 3,331.11 mt, up 408.83 mt from 2,922.289 mt on the previous day. This was the first time Shougang Group's daily output of 12 mm rebar exceeded 3,000 mt.
At present, there is strong market demand as well as a larger profit margin for 12 mm rebar in the Chinese domestic rebar market. Shougang Group stated that it expects to further increase its daily production capacity for 12 mm rebar with improvements in technology and efficiency.