India: Secondary mills record rebar production growth at over 128% in May’21

Rebar production through the IF route registered a massive growth of 128% m-o-m in May’21, as per latest reports. Lifting of lockdown measures at major locations in the country during the month was a key factor behind the rapid rise in production and sales.

• Rebar production through the BF route rose about 3% on month in May, excluding the state-owned mills.
• Overall, rebar production through both the IF and BF routes increased 73% on month in May.

It seems production dropped slightly in Jun, with both demand and producers’ margins remaining poor.