In the January-February period this year, China’s rebar production totaled 29.474 million mt, down 7.5 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the given year, domestic wire rod production amounted to 20.839 million mt, declining by 1.1 percent year on year, while welded pipe output came to 7.538 million mt, up 16.5 percent year on year.
Rebar prices in the Chinese domestic market moved down first in January, then edged up, though moved down again in late February. Rebar prices reached a peak in the January-February period at RMB 3,440/mt ($480/mt) on February 21-23, with the lowest level being seen at RMB 3,340/mt ($466/mt) during January 9-12, according to SteelOrbis’ data.