Posted on 02 Feb 2026

Rebar output among the 137 Chinese steel mills Mysteel regularly checks remained largely steady during the week of January 22-28, coming in at around 2 million tonnes, according to Mysteel's latest weekly survey, edging up by a minimal 0.1% or 2,800 tonnes on week.

Similarly, the rebar rolling capacity utilization rate among the sampled mills averaged 43.8% during the same period, also nudging up by 0.1 percentage point on week, another Mysteel survey showed.

Some steel mills in North China's Shanxi Province switched their bar mills back on during the survey week, while others in Central China's Henan, Southwest China's Sichuan and East China's Jiangsu province halted operations on some rolling mills to conduct maintenance ahead of the approaching Chinese New Year (CNY) holiday, Mysteel's weekly report showed. Consequently, rebar production remained steady on week.

The average run rate among the sampled mills dropped by 2 percentage points on week to 37.7%, Mysteel's survey found.

On the other hand, demand for reinforcing bars recorded a sharp decline as traders and end-users in some regional markets had already closed their businesses ahead of the CNY holiday, leaving a quietened market this week, Mysteel Global noted.

The daily spot trading volume of long steel products comprising rebar, wire rod and bar-in-coil among the 237 trading houses under Mysteel's tracking averaged 71,769 tonnes/day over January 23-29, down by a significant 11.7% or 9,471 t/d on week.

The faltering demand, coupled with steady production, caused rebar inventories to mount during the sample period, Mysteel's survey result showed.

Rebar stocks held by traders in commercial warehouses in the 35 cities Mysteel regularly checks had jumped by 7.7% or 232,800 tonnes on week to reach 3.26 million tonnes as of January 29.

Meanwhile, domestic rebar prices held largely steady on week, as contracting end-user demand continued to put downside pressure on prices, while rising prices of steelmaking raw materials lent some support from the cost side and buoyed market sentiment to some extent, Mysteel Global noted.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,317/tonne ($477/t) on January 29, down by Yuan 1/t from the level on January 22.

Source:Mysteel Global

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