In the January-August period this year, China’s rebar production totalled 155.426 million mt, down 13.8% yearly, according to China’s National Bureau of Statistics (NBS).
In the first eight months, wire rod production amounted to 95.906 million mt, down by 12.3% yearly.
In August alone, China’s rebar and wire rod production amounted to 19.252 million mt and 12.621 million mt, down 5.8% and 0.4% year on year, respectively.
Rebar prices moved on an overall downtrend in August, while the declining pace accelerated in late August, with the lowest level during the month at RMB 4,050/mt seen on August 31 and the highest level of RMB 4,250/mt observed on August 15.
Though market players had expected a better performance in September, rebar prices still fluctuated within a limited range until mid-September amid the negative impacts of the Mid-Autumn Day holiday and typhoon Muifa.
