In the January-March period this year, China’s rebar production totaled 55.289 million mt, down 13.3 percent year on year, according to China’s National Bureau of Statistics (NBS).
Wire rod production amounted to 32.803 million mt in the given period, down 16.8 percent year on year.
In March alone, China’s rebar and wire rod production amounted to 20.399 million mt and 12.364 million mt, down 11.9 percent and 10.9 percent, year on year, respectively.
Rebar prices first saw a rising trend in March, while edging down later in the given month, with the highest level of RMB 5,057/mt seen on March 7 and the lowest level of RMB 4,900/mt recorded on March 16, according to SteelOrbis’ data. Rebar prices moved up from mid-March amid the increasing trend in rebar futures prices.