In the January-February period this year, China’s rebar production totaled 26.91 million mt, down by 9.1 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the given period, domestic wire rod production amounted to 19.725 million mt, decreasing by 5.5 percent year on year, while welded pipe output came to 7.329 million mt, down 5.4 percent year on year.
In the first two months, rebar prices in the Chinese domestic market moved up first, while decreased later. Rebar prices reached a peak at RMB 3,317/mt ($481/mt) on January 8, with the lowest level during the month seen at RMB 3,217/mt ($466/mt) on February 28, according to SteelOrbis’ data.
