China’s rebar output rises by 5.1% in 2020, wire rod output up 6.4%

Monday, 08 February 2021 14:40:52 (GMT+3)   |   Shanghai
       

In December last year, China’s rebar production totaled 23.58 million mt, up 6.4 percent year on year, 3.6 percentage points faster than the increase recorded in November, according to China’s National Bureau of Statistics (NBS). The month-on-month rise was 1.32 percent in December, following a drop of 2.14 percent in November.

Wire rod production in China amounted to 14.684 million mt in December, up 10.1 percent year on year, 0.1 percentage point faster than the increase seen in November. The output volume was down 0.68 percent from November.

Local rebar prices in China rose to their highest level of RMB 4,553/mt on December 22 amid rising rebar futures prices and demand, according to SteelOrbis’ data.

In 2020 overall, China’s rebar and wire rod outputs amounted to 266.391 million mt and 166.556 million mt, up 5.1 percent and 6.4 percent year on year, respectively, 0.2 percentage points and 0.6 percentage points faster than the year-on-year increases recorded in the first 11 months of the year.


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