China’s rebar & wire rod output hikes in Q1 y-o-y

According to statistics released by the National Bureau of Statistics (NBS) of China, in the first three months of this year, China’s rebar output totaled around 63.36 million tons, hiking by nearly 19% compared to the same period a year ago. During the period, China’s wire rod production reached approximately 39.16 million tons, a year-on-year increase of 16.3%. It was understood that China’s domestic rebar prices were in an upward trend in March due to the high demand and lift by rebar futures prices.