According to the National Bureau of Statistics of China (NBS), in the period from January to March of this year, rebar production in China amounted to 42.319 million tons, which is 12.3 percent less than last year.
In the specified period, domestic wire rod production totaled 31.247 million tons, down 6.4 percent year–on-year, and welded pipe production totaled 13.116 million tons, down 7.3 percent year-on-year.
In March alone, the production of rebar, wire rod and welded pipes in China amounted to 15.415 million tons, 11.583 million tons and 5.917 million tons, which is 17.4%, 6.0% and 7.1% less compared to the same period last year, respectively.
In March, rebar prices in the Chinese domestic market initially declined amid a recovery in demand. It turned out to be not as good as market participants expected, although they increased at the end of the month as infrastructure projects entered the peak construction season, stimulating demand for rebar and reducing inventories. According to SteelOrbis, rebar prices peaked in March at 3,267 yuan per tonne ($476 per tonne) on March 23, with the lowest level in a month at 3,210 yuan per tonne ($468 per tonne) on March 4-8, according to SteelOrbis.
