In the January-September period this year, China’s rebar production totaled 145.056 million mt, down 15.7 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the given period, domestic wire rod production amounted to 100.33 million mt, declining by 4.2 percent year on year, while welded pipe output came to 43.995 million mt, down 9.4 percent year on year.
In September alone, China’s rebar, wire rod and welded pipe outputs amounted to 15.314 million mt, 11.725 million mt and 5.406 million mt, down 16.6 percent, 2.5 percent and 8.0 percent year on year, while up 21.99 percent, 12.38 percent and 10.71 percent month on month, respectively.
In September, rebar prices in the Chinese domestic market first fluctuated within a limited range, while they moved up later as China issued several stimulus policies in late September, which bolstered market sentiments and provided solid support for rebar prices. Rebar prices reached a peak in September at RMB 3,867/mt on September 30, while they saw their lowest level during the month on September 6-9 at RMB 3,193/mt, according to SteelOrbis’ data.
