In November this year, China’s rebar production totaled 23.271 million mt, up 2.8 percent year on year, 3.7 percentage points slower than the increase recorded in October, according to China’s National Bureau of Statistics (NBS). The month-on-month drop was 2.14 percent in November, following a rise of 1.53 percent in October.
Wire rod production amounted to 14.785 million mt in November, up 10.0 percent year on year, 4.4 percentage points slower than the increase seen in October. The output volume was down 2.47 percent from October.
Local rebar prices in China rose by 5.65 percent in November amid rising rebar futures prices, good demand and surging iron ore prices, according to SteelOrbis’ data.
In the January-November period this year, China’s rebar and wire rod outputs amounted to 242.673 million mt and 151.718 million mt, up 4.9 percent and 5.8 percent year on year, respectively, compared to respective year-on-year rises of 4.7 percent and 5.3 percent recorded in the first ten months of the year.