In October this year,China’srebarandwire rodoutputs totaled 18.917 million mt and 11.743 million mt, down 20.6 percent and 22.9 percent year on year, while up 6.9 percent and 5.12 percent month on month, respectively, according toChina’s National Bureau of Statistics (NBS).
Therebarandwire rodoutputs indicated a rebounding trend in October amid the easing of production restrictions following the long National Day holiday, whilerebarprices seen an overall downtrend in October, with the highest level of RMB 6,057/mt on October 8-11 and the lowest level of RMB 5,320/mt on October 31, according to SteelOrbis’ data.
In the January-October period this year,China’srebarproduction totaled 214.123 million mt, down 1.8 percent year on year, shifting from a year-on-year rise of 0.6 percent recorded in the first nine months this year.
Wire rodproduction amounted to 132.127 million mt in the first ten months, down 4.8 percent year on year, 2.5 percentage points faster than the declining pace recorded in the first nine months this year.