In May this year, China’s rebar and wire rod outputs totaled 24.673 million mt and 15.017million mt, up 3.0 percent and 3.4 percent year on year, while rising by 4.3 percent and 5.95 percent month on month, respectively.
Local rebar prices in China increased in the first part of May, hitting a peak level for the month at RMB 6,223/mt ex-warehouse on May 13 amid support from continuously rising rebar futures prices and decent demand in the given period. However, prices moved down later affected by declining rebar futures prices, falling to the lowest level in the month at RMB 4,937/mt ex-warehouse on May 27, according to SteelOrbis’ data.
In the January-May period this year, China’s rebar production totaled 110.881 million mt, up 13.5 percent year on year, 3.4 percentage points slower than the increase recorded in the first four months this year, according to China’s National Bureau of Statistics (NBS).
Wire rod production amounted to 69.103 million mt in the first five months this year, up 12.2 percent year on year, 1.9 percentage points slower than the increase seen in the first four months this year.