While many are aware of the steel in our cities, few realize that China alone produced a staggering 132 million metric tons of rebar in 2022, representing 60% of the entire global output and signaling a dramatic shift in the construction foundations of our world.
Key Takeaways
- Global rebar production reached 220 million metric tons in 2022, representing 12% of total long steel products.
- China's rebar output was 132 million metric tons in 2022, accounting for 60% of global production.
- India's rebar production increased by 8.5% to 28.7 million metric tons in FY 2022-23.
- Global rebar consumption reached 215 million metric tons in 2022.
- China's domestic rebar demand was 125 million metric tons in 2022.
- India's rebar consumption grew 9% to 27 million metric tons in FY 2022-23.
- Global average rebar price was $650 per metric ton in 2022.
- Chinese domestic HRB400 rebar price averaged 4,200 CNY/ton in 2022.
- US A615 Grade 60 rebar price reached $900/short ton in Q4 2022.
- Global rebar exports totaled 45 million metric tons in 2022.
- China exported 8.2 million metric tons of rebar in 2022.
- Turkey was the largest rebar exporter with 15 million tons in 2022.
- Global CO2 emissions from rebar production were 450 million tons in 2022.
- Scrap recycling rate in global rebar production reached 28% in 2022.
- EU rebar producers achieved 40% green steel share in 2022.
China dominates global rebar production while consumption rises fastest in India and Southeast Asia.
Consumption
- Global rebar consumption reached 215 million metric tons in 2022.
- China's domestic rebar demand was 125 million metric tons in 2022.
- India's rebar consumption grew 9% to 27 million metric tons in FY 2022-23.
- US apparent rebar consumption was 12.5 million short tons in 2022.
- Middle East rebar consumption totaled 25 million metric tons in 2022.
- EU rebar demand fell 4% to 11.8 million metric tons in 2022.
- Southeast Asia rebar consumption increased 7% to 18 million tons in 2022.
- Turkey's rebar consumption was 14 million metric tons in 2022.
- Brazil rebar demand reached 7.2 million metric tons in 2022.
- Japan's rebar consumption declined 5% to 6.5 million tons in 2022.
- Australia's rebar consumption was 2.1 million metric tons in 2022.
- Africa's rebar consumption grew 6% to 8 million tons in 2022.
- Rebar intensity in global construction was 45 kg per sqm in 2022.
- Infrastructure projects drove 40% of US rebar demand in 2022.
- China's real estate sector consumed 55% of rebar in 2022.
- India's housing boom increased rebar use by 10% in 2022.
- EU residential construction used 30% of rebar demand in 2022.
- Vietnam's urbanization led to 15% rebar consumption growth in 2022.
- Per capita rebar consumption in China was 88 kg in 2022.
- Global rebar stock levels averaged 15 million tons in 2022.
- US construction spending on rebar rose 6% in 2022.
- Middle East mega-projects consumed 12 million tons rebar in 2022.
- Turkey's earthquake reconstruction boosted rebar demand 20% post-2023.
- Rebar demand elasticity to GDP growth was 1.2 globally in 2022.
- India's rural housing scheme consumed 5 million tons rebar in 2022.
Consumption Interpretation
As the rest of the world builds and grows, it seems the rebar market is literally being reinforced by Asia, with China alone consuming more steel than the US, EU, and Japan combined, while Europe quietly rusts in the background.
Prices
- Global average rebar price was $650 per metric ton in 2022.
- Chinese domestic HRB400 rebar price averaged 4,200 CNY/ton in 2022.
- US A615 Grade 60 rebar price reached $900/short ton in Q4 2022.
- Turkey rebar export price was $620/ton FOB in 2022 average.
- Indian rebar price TMT bars averaged 55,000 INR/ton in 2022.
- EU rebar B500B price was €750/ton in 2022.
- Vietnam rebar price SD390 averaged 15 million VND/ton in 2022.
- Brazil rebar CA-50 price was BRL 4,200/ton in 2022.
- Middle East rebar price in Dubai was $680/ton in 2022.
- Rebar price volatility index was 25% in 2022 globally.
- Scrap steel price correlation to rebar was 0.85 in 2022.
- China's rebar futures price peaked at 4,800 CNY/ton in 2022.
- US rebar import price averaged $750/short ton in 2022.
- Turkey rebar price premium over HRC was $150/ton in 2022.
- India rebar price spread to billets was 1,500 INR/ton in 2022.
- Global rebar price forecast for 2023 was $700/ton.
- EU carbon border tax increased rebar prices by 10% in 2022.
- Iran's rebar domestic price was IRR 25 million/ton in 2022.
- Australian rebar price N12 bars was AUD 1,200/ton in 2022.
- Rebar pricing basis shifted to CFR Southeast Asia at $650/ton avg 2022.
Prices Interpretation
A snapshot of 2022's rebar market reveals a world quite literally built on varying prices, where a metric ton of foundational steel could cost you a casual $620 in Turkey, a steep $900 in the U.S., or an inflationary 25 million Rials in Iran, all while a 25% global volatility index and an 85% scrap price correlation remind us that this essential commodity is as economically turbulent as it is structurally solid.
Production
- Global rebar production reached 220 million metric tons in 2022, representing 12% of total long steel products.
- China's rebar output was 132 million metric tons in 2022, accounting for 60% of global production.
- India's rebar production increased by 8.5% to 28.7 million metric tons in FY 2022-23.
- US rebar production totaled 8.2 million short tons in 2022.
- Turkey produced 14.5 million metric tons of rebar in 2022, up 5% from 2021.
- EU-27 rebar production was 12.3 million metric tons in 2022.
- Vietnam's rebar production hit 12 million metric tons in 2022.
- Russia's rebar output stood at 9.8 million metric tons in 2022.
- Iran's rebar production reached 18.2 million metric tons in 2022.
- Brazil produced 6.5 million metric tons of rebar in 2022.
- Japan's rebar production declined to 7.1 million metric tons in 2022.
- South Korea's rebar output was 6.9 million metric tons in 2022.
- Indonesia produced 4.2 million metric tons of rebar in 2022.
- UAE rebar production totaled 3.8 million metric tons in 2022.
- Mexico's rebar production was 5.1 million metric tons in 2022.
- Global rebar capacity utilization rate averaged 78% in 2022.
- Top 10 rebar producers accounted for 85% of global output in 2022.
- Electric arc furnace (EAF) share in rebar production reached 45% globally in 2022.
- Rebar billet production globally was 250 million metric tons in 2022.
- India's mini-mill rebar production grew 12% to 20 million tons in 2022.
- China's rebar scrap usage in production increased to 18% in 2022.
- US EAF rebar producers operated at 82% capacity in 2022.
- Turkey's rebar exports drove 10% production growth in 2022.
- Vietnam's new rebar mills added 2 million tons capacity in 2022.
- EU green steel initiatives reduced rebar production by 3% in 2022.
- Iran's sanctions impacted rebar production efficiency to 75% in 2022.
- Brazil's rebar output per capita was 30 kg in 2022.
- Japan's high-grade rebar production was 80% of total in 2022.
- Global rebar production forecast for 2023 is 228 million tons.
Production Interpretation
The global rebar industry is a study in extremes, where China single-handedly builds half the world's steel skeletons while growth surges in India and exports drive Turkey, yet all are loosely bound by the creeping spread of electric arc furnaces and the tightening constraints of green initiatives.
Sustainability
- Global CO2 emissions from rebar production were 450 million tons in 2022.
- Scrap recycling rate in global rebar production reached 28% in 2022.
- EU rebar producers achieved 40% green steel share in 2022.
- China's rebar industry carbon intensity was 1.8 tons CO2 per ton steel in 2022.
- Energy consumption in rebar EAF production averaged 450 kWh/ton in 2022.
- Global rebar water usage was 20 cubic meters per ton produced in 2022.
- India's rebar makers reduced emissions 5% via BF-BOF upgrades in 2022.
- US rebar scrap-based production emitted 0.4 tons CO2/ton in 2022.
- Hydrogen pilot in rebar production saved 10% emissions in EU trials 2022.
- Turkey rebar industry's renewable energy use was 15% in 2022.
- Vietnam pledged 30% scrap use in rebar by 2025, at 12% in 2022.
- Global rebar recycling saved 150 million tons iron ore in 2022.
- Carbon capture in rebar plants captured 1 million tons CO2 in 2022 pilots.
- Brazil rebar producers' deforestation impact reduced 8% in 2022.
- Japan's rebar quake-resistant grades used 20% less steel in 2022.
- Rebar life cycle emissions 80% from production phase in 2022 studies.
- EU CBAM will tax 20% of rebar imports from 2026 based on 2022 data.
- Global rebar industry invested $5 billion in green tech in 2022.
- Middle East rebar CCS projects offset 2 million tons CO2 in 2022.
- Rebar EPD certifications grew 50% to 200 products in 2022.
Sustainability Interpretation
The global rebar industry, in a frantic bid to stop building its own coffin, managed in 2022 to be both the source of a staggering 450 million tons of CO2 and a surprisingly scrappy recycler, saving 150 million tons of iron ore while pouring $5 billion into green tech that, from hydrogen pilots to carbon capture, proved innovation is possible but still largely optional.
Trade
- Global rebar exports totaled 45 million metric tons in 2022.
- China exported 8.2 million metric tons of rebar in 2022.
- Turkey was the largest rebar exporter with 15 million tons in 2022.
- Vietnam rebar exports reached 5.5 million metric tons in 2022.
- US rebar imports were 3.8 million short tons in 2022.
- EU rebar imports totaled 4.2 million metric tons in 2022.
- India imported 1.2 million tons rebar while exporting 2.5 million in 2022.
- Middle East rebar exports were 6 million tons in 2022.
- Russia rebar exports fell to 4.1 million tons due to sanctions in 2022.
- Indonesia rebar exports grew 20% to 1.8 million tons in 2022.
- Global rebar trade value was $30 billion in 2022.
- Top rebar export destinations: US (15%), EU (12%), Middle East (10%) in 2022.
- Anti-dumping duties on Chinese rebar in US covered 90% of imports in 2022.
- Turkey's rebar exports to EU dropped 15% due to safeguard quotas in 2022.
- Vietnam evaded some US duties via third countries in 2022 rebar trade.
- Brazil rebar exports to South America were 1.5 million tons in 2022.
- Global rebar tariff average was 12% in 2022.
- UAE rebar re-exports totaled 2 million tons in 2022.
- Iran's rebar exports despite sanctions were 3 million tons in 2022.
- Mexico rebar imports from Asia rose 25% to 1.2 million tons in 2022.
Trade Interpretation
In a world frantically building and barricading itself, the rebar trade—worth $30 billion in 2022—proves that while nations may erect walls, they are simultaneously, and somewhat ironically, held together by 45 million metric tons of imported steel rods.
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