In the January-November period this year, China’s rebar production totaled 179.333 million mt, down 14.3 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the given period, domestic wire rod production amounted to 123.753 million mt, declining by 2.6 percent year on year, while welded pipe output came to 55.301 million mt, down 8.6 percent year on year.
In November alone, China’s rebar, wire rod and welded pipe outputs amounted to 16.745 million mt, 11.237 million mt and 5.435 million mt, down 6.6 percent, up 0.5 percent and down 7.0 percent year on year, while down 5.48 percent, down 7.34 percent and up 13.42 percent month on month, respectively.
Rebar prices in the Chinese domestic market moved an overall downtrend in November amid the slack demand from downstream users and the declining rebar futures prices. Rebar prices reached a peak in November at RMB 3,593/mt on November 1-3, while falling to their lowest level during the month on November 18 at RMB 3,413/mt, according to SteelOrbis’ data.