According to Global Industry Analysts (GIA), 19 new
wire rod production lines were put into
production in
China in 2010, with an aggregate annual capacity of 14.35 million mt. As a result,
China's annual
production capacity of
wire rod reached 36.85 million mt.
GIA also stated that it expects the total value of
wire rod consumption in the global market to reach $25.4 billion by 2015. It added that future steel demand in
China would depend on the profitability of domestic steel companies and the energy-saving and emission reduction policy of the Chinese government.