In August this year, China’s rebar production amounted to 21.909 million mt, down 2.6 percent month on month, while rising by 17.1 percent year on year, with this year-on-year growth was nine percentage points lower than that recorded in July. Though production restrictions have not been so strict, producers have been facing lower demand and falling margins, with some of them even incurring losses, which has led to the stoppages of some rolling lines. Nevertheless, rebar production has remained high, showing double-digit growth year-on-year.
In the January-August period this year, China's rebar production amounted to 164.102 million mt, up 20.5 percent year on year, with the growth was just 0.2 percentage points lower than that recorded in the January-July period, as announced by China’s National Bureau of Statistics (NBS).
China’s wire rod production amounted to 14.004 million mt in August, up 1.2 percent month on month, while rising by 8.3 percent year on year, with this year-on-year growth 1.5 percentage points higher than that recorded in July. The slightly better situation in the wire rod market locally compared to the rebar segment has led to a further output increase.
In the January-August period this year, China's wire rod production amounted to 105.406 million mt, up 12.4 percent year on year, with the growth down 0.5 percentage points from the January-July period.