In November this year, China’s rebar and wire rod outputs totaled 17.766 million mt and 11.025 million mt, down 23.7 percent and 26.4 percent year on year, while down 6.1 percent and 6.1 percent month on month, respectively, according to China’s National Bureau of Statistics (NBS).
The rebar and wire rod outputs declined in November amid the slack demand from downstream users given cold weather conditions and restrictions, while rebar prices edged down in the given month, with the highest level of RMB 5,280/mt ex-warehouse seen on November 1, while the lowest level during the month of RMB 4,720/mt ex-warehouse recorded on November 10, according to SteelOrbis’ data.
In the January-November period this year, China’s rebar production totaled 231.847 million mt, down 4.1 percent year on year, 2.3 percentage points faster than the declining pace recorded in the first ten months this year.
China’s wire rod production amounted to 143.074 million mt in the first 11 months this year, down 6.9 percent year on year, 2.1 percentage points faster than the declining pace recorded in the first ten months this year.