In August this year, China’s rebar production totaled 24.133 million mt, up 9.2 percent year on year, 3.9 percentage points faster than the increase recorded in July, according to China’s National Bureau of Statistics (NBS). The month-on-month increase was 0.88 percent in August, following a gradual rise in July.
Wire rod production amounted to 14.656 million mt in August, up 7.0 percent year on year, 0.5 percentage points slower than the increase seen in July. The output volume was up 1.3 percent from July.
Local rebar prices in China rose by 1.3 percent in August, according to SteelOrbis’ data, but mainly because of the hike in prices towards the end of the month. However, the situation in the flat steel segment remained better than in the longs segment.
In the January-August period this year, China’s rebar and wire rod outputs amounted to 171.534 million mt and 106.258 million mt, up 3.7 percent and 3.4 percent year on year, respectively, compared to respective year-on-year rises of 2.9 percent 1.9 percent recorded in the first seven months of the year.