India: Re-bar production plunges by up to 30% in Jun’21

Monthly re-bar production fell sharply by 27% in Jun’21 to 2.353 mn t against 3.205 mn t in May’21, which includes both IF and BF route re-bar. IF route production accounted for around 72% of total production while the rest was from the BF route. Overall figures drifted down by 15-30% except SAIL, which witnessed marginal rise in production by 5% to 161,000 t in Jun’21. Subdued demand and limited margins have forced Indian mills to minimise capacity utilisation. Furthermore, it seems production has trended down Jul too, SteelMint notes.