In the January-June period this year, China’s rebar production totaled 98.31 million mt, down 3.0 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the given period, domestic wire rod production amounted to 67.89 million mt, rising by 0.6 percent year on year, while welded pipe output came to 29.708 million mt, up 4.4 percent year on year.
In June alone, China’s production of rebar, wire rod and welded pipe amounted to 16.583 million mt, 11.688 million mt and 5.737 million mt, down 8.1 percent, down 6.7 percent and up 8.4 percent year on year, respectively.
In June, rebar prices in the Chinese domestic market moved up first, while fluctuating within a limited range later, though moved down in late June. Rebar prices reached a peak in June at RMB 3,157/mt ($441.5/mt) on June 6 and June 11, with the lowest level during the month seen at RMB 3,107/mt ($434.5/mt) on June 26, according to SteelOrbis’ data.