China’s rebar and wire rod outputs improve in October

Wednesday, 18 November 2020 17:01:42 (GMT+3)   |   Shanghai
       

In October this year, China’s rebar production totaled 23.781 million mt, up 6.5 percent year on year, 3.4 percentage points slower than the increase recorded in September, according to China’s National Bureau of Statistics (NBS). The month-on-month rise was 1.53 percent in October, following a slight drop in September.

Wire rod production amounted to 15.16 million mt in October, up 14.4 percent year on year, 2.9 percentage points faster than the increase seen in September. The output volume was up 0.5 percent from September.

Local rebar prices in China rose by 3.2 percent in October amid rising rebar futures prices, good demand and prevailing bullish sentiments among market players, according to SteelOrbis’ data.

In the January-October period this year, China’s rebar and wire rod outputs amounted to 219.043 million mt and 136.922 million mt, up 4.7 percent and 5.3 percent year on year, respectively, compared to respective year-on-year rises of 4.5 percent and 4.3 percent recorded in the first nine months of the year.


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