In the January-November period this year, China’s rebar production totaled 218.151 million mt, down 8.1 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the first eleven months, wire rod production amounted to 130.346 million mt, down 7.7 percent year on year.
In November alone, China’s rebar and wire rod production amounted to 19.785 million mt and 10.731 million mt, up 8.5 percent and down 0.3 percent, year on year, respectively.
The rebar prices have moved up gradually in November, with the lowest level of RMB 3,793/mt being seen on November 1 and the highest level of RMB 3,900/mt being seen on November 16, according to SteelOrbis’ data. Rebar prices have edged up in November amid the rising trend in rebar futures prices following China issuing policies to boost the real estate industry and the easing of Covid-19 measures, which bolstered market players’ sentiments.
