In the January-July period this year, China’s rebar production totaled 136.322 million mt, down 14.7 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the first seven months, wire rod production amounted to 83.32 million mt, down 13.7 percent year on year.
In July alone, China’s rebar and wire rod production amounted to 17.122 million mt and 11.572 million mt, down 19.8 percent and 14.7 percent, year on year, respectively.
Rebar prices in China indicated strong declines from the beginning of July up to July 18, with the lowest level for the month of RMB 3,927/mt seen on July 18 and the highest level of RMB 4,373/mt seen on July 1-3, according to SteelOrbis’ data. Later in the given month, rebar prices moved on an uptrend amid improved demand from downstream users and positive sentiments in the rebar market.