In the January-April period this year, China’s rebar production totaled 75.828 million mt, down 13.6 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the first four months, wire rod production amounted to 45.214 million mt in the given period, down 15.9 percent year on year.
In April alone, China’s rebar and wire rod production amounted to 20.55 million mt and 12.435 million mt, down 14.1 percent and 13.0 percent, year on year, respectively.
The rebar prices have indicated ups and downs in April, though the declining trend has been more obvious since April 21, with the highest level of RMB 5,183/mt being seen on April 21 and the lowest level of RMB 5,053/mt being seen on April 26, according to SteelOrbis’ data. The continuous lockdown of Shanghai and the spreading Covid-19 pandemic affected the rebar market.