In the January-August period this year, China’s rebar production totaled 128.678 million mt, up 0.3 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the given period, domestic wire rod production amounted to 90.392 million mt, increasing by 2.0 percent year on year, while welded pipe output came to 39.909 million mt, up 3.4 percent year on year.
In August alone, China’s production of rebar, wire rod and welded pipe amounted to 15.412 million mt, 11.452 million mt and 5.089 million mt, up 23.6 percent, 9.7 percent and 4.7 percent year on year, respectively.
In August, rebar prices in the Chinese domestic market moved down. Rebar prices reached a peak in August at RMB 3,347/mt ($471/mt) on August 12, with the lowest level during the month seen at RMB 3,240/mt ($456/mt) on August 29-31, according to SteelOrbis’ data.
