In the January-May period this year, China’s rebar production totaled 72.567 million mt, down 12.2 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the given period, domestic wire rod production amounted to 52.474 million mt, decreasing by 6.5 percent year on year, while welded pipe output came to 23.483 million mt, up 0.5 percent year on year.
In May alone, China’s production of rebar, wire rod and welded pipe amounted to 15.22 million mt, 10.907 million mt and 5.355 million mt, down 10.5 percent, down 9.1 percent and up 3.5 percent year on year, while up 0.71 percent, up 4.27 percent and down 4.61 percent month on month, respectively.
In May, rebar prices in the Chinese domestic market moved up first while decreasing later. Rebar prices reached a peak in May at RMB 3,420/mt ($502/mt) on May 11, with the lowest level during the month seen at RMB 3,293/mt ($473/mt) on May 28, according to SteelOrbis’ data. Due to the widespread rainy weather and high temperatures in southern and eastern China, rebar prices in the Chinese domestic market have seen an overall declining trend in June.
