According to China’s National Bureau of Statistics, in May this year, China’s rebar, wire coil and welded pipe output was 19.929 million tonnes, 11.63 million tonnes and 5.758 million tonnes, down by 8.8%, 13.3% and up by 9.4% year on year, respectively, while decreased by 5.55%, 6.79% and 5.67% monthly, respectively.

Rebar prices declined amid a downward trend in rebar futures prices and slumping demand in May, which witnessed 3,847 Yuan/tonne on May 9, and 3,610 Yuan/tonne on May 31.

In June, rebar prices fell to the lowest level due to production cuts in some regions of China, although hot and rainy weather negatively affected the rebar market.

From January to May 2023, China’s total rebar production reached 96.937 million tonnes, down by 0.9 per cent yearly.

In the first five months of this year, wire coil output reached 58.379 million tonnes, down by 0.2 per cent yearly.

In the same period, China’s welded pipes production reached 24.181 million tonnes, up 12.0% yearly.