In December, the production amount was recorded as 17.64 million tons, with a decrease of 7.2% compared to the same period of the previous year. Monthly rebar production decreased by 2%, 366,000 tons, compared to November.
According to the survey conducted among Chinese steel producers, production rates decreased by 4.34% on an annual basis, decreasing by 1.99 points to 55.21% at the end of December compared to the previous month. It is stated that steel producers who started to stop maintenance in their steel production facilities had an impact on this decrease.
In addition, narrow profit margins and weak demand were effective in increasing losses in rebar sales. Increases in iron ore and raw material prices also increased production costs. Spot rebar prices in
China increased by 13% in December compared to the same period last year, reaching an average of 4,070 Yuan/t. This shows that the share of rebar production in China's total steel production is 16.6%.
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