In 2022, China’s rebar production totaled 237.628 million mt, down 8.1 percent year on year, according to China’s National Bureau of Statistics (NBS).
In 2022, wire rod production amounted to 141.368 million mt, down 8.2 percent year on year.
In December alone, China’s rebar and wire rod production amounted to 19.517 million mt and 11.048 million mt, down 4.4 percent and 12.3 percent, year on year, respectively.
Rebar prices in China moved on an overall uptrend in December, with the lowest level of RMB 3,857/mt being seen on December 1 and the highest level of RMB 4,147/mt recorded on December 30-31, according to SteelOrbis’ data. The increasing trend seen in rebar futures prices and relatively high iron ore prices bolstered rebar prices in the Chinese domestic market. At the same time, market players built up stocks of rebar ahead of the Chinese New Year holiday, which also positively affected prices.