In the January-May period this year, China’s rebar production totaled 82.283 million mt, down 1.6 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the given period, domestic wire rod production amounted to 56.193 million mt, rising by 2.3 percent year on year, while welded pipe output came to 23.922 million mt, up 4.2 percent year on year.
In May alone, China’s production of rebar, wire rod and welded pipe amounted to 16.884 million mt, 12.016 million mt and 5.463 million mt, down 6.0 percent, 1.2 percent and 1.4 percent year on year, respectively.
In May, rebar prices in the Chinese domestic market moved up first, while moved down later. Rebar prices reached a peak in May at RMB 3,287/mt ($457/mt) on May 15, with the lowest level during the month seen at RMB 3,153/mt ($438/mt) on May 31, according to SteelOrbis’ data.