Posted on 08 Apr 2024
Rebar production among the 137 Chinese steel producers under Mysteel's tracking reversed up during March 28-April 3 after a three-week decline, rising by 1.4% or 28,900 tonnes on week to 2.13 million tonnes, according to Mysteel's weekly survey.
Survey respondents said some integrated mills had resumed production after overhauling their rolling mills, leading to a rebound in rebar output in several regions such as Central and Northeast China during the period.
Meanwhile, rebar production among the surveyed mills during the survey week was still 29.4% lower than during the same period a year earlier, Mysteel's data showed.
During the survey period, the rebar rolling capacity utilization rate among the surveyed steelmakers rebounded by 0.6 percentage point on week to 46.6%, while their operational rate slipped 0.3 percentage point during the same period to 39.7%, Mysteel's surveys showed.
China's spot steel market had witnessed a fluctuation in prices last week, and as of April 3, the country's national price of HRB400E 20mm dia rebar as assessed by Mysteel had lost some Yuan 39/tonne ($5.4/t) on week at Yuan 3,614/t including the 13% VAT.
On the other hand, steel demand from end-users had showed signs of recovering this past week, as spot sales of construction steel including rebar, wire rod and bar-in-coil among the 237 Chinese steel trading houses Mysteel monitors had picked up by 16.5% or 21,576 tonnes/day on week to average 152,235 t/d over March 28-April 3.
Higher consumption saw rebar inventories at the 137 Chinese steel mills and among the traders Mysteel follows in 35 cities nationwide decline further last week. Stocks at those mills thinned for the third week, declining by 8.3% or 288,100 tonnes on week to 3.2 million tonnes as of April 3, while the tonnage at the surveyed traders thinned for a fourth week, declining by 4% or 345,000 tonnes on week to 8.4 million tonnes as of April 4.
Table 1: Rebar Production Survey by Region by Apr 3
Table 2: Wire Rod Production Survey by Region by Apr 3
Table 3: Rebar Production Survey by Process by Apr 3
Table 4: Wire Rod Production Survey by Process by Apr 3
Table 5: Mills' Rebar and Wire Rod Stocks by Region by Apr 3
Table 6: Rebar and Wire Rod Stocks Survey by Process by Apr 3
Source:Mysteel Global
