In 2023, China’s rebar production totaled 209.738 million mt, down 2.1 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the given year, domestic wire rod production amounted to 137.351 million mt, declining by 0.2 percent year on year.
In the same period, China’s welded pipe output reached 64.151 million mt, up 8.8 percent year on year.
In December alone, China’s rebar, wire rod and welded pipe outputs amounted to 17.644 million mt, 10.833 million mt and 5.374 million mt, down 7.2 percent, up 1.5 percent and up 5.9 percent year on year, while down 2.03 percent, 2.48 percent and 5.0 percent month on month, respectively.
In December, rebar prices indicated an uptrend first amid increasing iron ore prices, while they declined from December 12 due to slack demand from downstream users. Rebar prices reached a peak in December at RMB 4,083/mt on December 8-10, while they fell to their lowest level during the month at RMB 4,003/mt on December 21, according to SteelOrbis’ data.