In the January-April period this year, China’s rebar production output totaled 77.339 million mt, up 1.2 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the first four months this year, wire rod production output amounted to 47.793 million mt, up 5.8 percent year on year.
In the same period, China’s welded pipe output reached 18.867 million mt, up 15.4 percent year on year.
In April alone, China’s rebar, wire rod and welded pipe outputs amounted to 21.101 million mt, 12.477 million mt and 5.449 million mt, up 2.1 percent, down 0.4 percent and up 16.7 percent, year on year, while down 9.38 percent, down 7.8 percent and down 15.6 percent, month on month, respectively.
The rebar prices have indicated an overall downtrend in April amid the decreasing trend in rebar futures prices, with the highest level of RMB 4,253/mt being seen on April 1-2, and the lowest level of RMB 3,833/mt being seen on April 28-29, according to SteelOrbis’ data. Following the Labor Day holiday, rebar prices indicated a rebounding trend amid the declining production output, though the slack demand from downstream users weakened the support to rebar market.