In the January-October period this year, China’s rebar production totaled 158.01 million mt, down 2.0 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the given period, domestic wire rod production amounted to 113.005 million mt, increasing by 0.4 percent year on year, while welded pipe output came to 50.173 million mt, up 3.7 percent year on year.
In October alone, China’s production of rebar, wire rod and welded pipe amounted to 14.34 million mt, 10.861 million mt and 5.203 million mt, down 18.6 percent, down 10.4 percent and up 7.7 percent year on year, while down 18.6 percent, 7.21 percent and 5.3 percent month on month, respectively.
In October, rebar prices in the Chinese domestic market moved sideways first, edged down later, while rebounding by the end of month. Rebar prices reached a peak in October at RMB 3,230/mt ($455/mt) on October 30-31, with the lowest level during the month seen at RMB 3,150/mt ($444/mt) on October 16-19, according to SteelOrbis’ data.