China’s rebar production rises by 19 percent in January-February

Thursday, 18 March 2021 14:49:57 (GMT+3)   |   Shanghai
       

In the January-February period this year, China’s rebar production totaled 40.485 million mt, up 19 percent year on year, 12.6 percentage points faster than the increase rate recorded in December last year, according to China’s National Bureau of Statistics (NBS).

Wire rod production amounted to 25.848 million mt in the first two months, up 17.4 percent year on year, 7.3 percentage points faster than the increase seen in December last year.

Local rebar prices in China rose to the highest level in February at RMB 4,693/mt on February 23 - according to SteelOrbis’ data - following the long Chinese New Year holiday amid surging iron ore prices and sharp rises in ferrous metal futures prices as market players looked forward to better demand.

 


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