China’s rebar output rises by 6.9% in Oct from Sept

Thursday, 18 November 2021 13:46:35 (GMT+3)   |   Shanghai
       

In October this year, China’s rebar and wire rod outputs totaled 18.917 million mt and 11.743 million mt, down 20.6 percent and 22.9 percent year on year, while up 6.9 percent and 5.12 percent month on month, respectively, according to China’s National Bureau of Statistics (NBS).

The rebar and wire rod outputs indicated a rebounding trend in October amid the easing of production restrictions following the long National Day holiday, while rebar prices seen an overall downtrend in October, with the highest level of RMB 6,057/mt on October 8-11 and the lowest level of RMB 5,320/mt on October 31, according to SteelOrbis’ data.

In the January-October period this year, China’s rebar production totaled 214.123 million mt, down 1.8 percent year on year, shifting from a year-on-year rise of 0.6 percent recorded in the first nine months this year.

Wire rod production amounted to 132.127 million mt in the first ten months, down 4.8 percent year on year, 2.5 percentage points faster than the declining pace recorded in the first nine months this year.


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