In the January-March period this year, China’s rebar production totaled 48.107 million mt, down 2.9 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the given year, domestic wire rod production amounted to 33.371 million mt, rising by 3.1 percent year on year, while welded pipe output came to 13.911 million mt, up 16.7 percent year on year.
In March alone, China’s production of rebar, wire rod and welded pipe amounted to 18.611 million mt, 12.317 million mt and 6.266 million mt, up 5.6 percent, 8.5 percent and 11.2 percent year on year, respectively.
Rebar prices in the Chinese domestic market moved down gradually in March. Rebar prices reached a peak in March at RMB 3,400/mt ($472/mt) on March 3, with the lowest level being seen at RMB 3,303/mt ($459/mt) on March 19, according to SteelOrbis’ data.