In the January-October period this year, China’s rebar production totaled 162.813 million mt, down 14.3 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the given period, domestic wire rod production amounted to 112.544 million mt, declining by 2.9 percent year on year, while welded pipe output came to 48.741 million mt, down 10.6 percent year on year.
In October alone, China’s rebar, wire rod and welded pipe outputs amounted to 17.716 million mt, 12.127 million mt and 4.792 million mt, down 1.9 percent, up 9.7 percent and down 14.8 percent year on year, while up 15.68 percent, up 3.43 percent and down 11.36 percent month on month, respectively.
Rebar prices in the Chinese domestic market moved up in early October, while they moved down during the remainder of the given month as demand from downstream users was not as good as market players had expected. Rebar prices reached a peak in October at RMB 3,900/mt on October 8, while falling to their lowest level during the month on October 24 at RMB 3,570/mt, according to SteelOrbis’ data.