Regional steel trading associations in China are seeking a delay in implementing new quality standards for steel rebar, used in construction, following news of the rules’ planned September 25 implementation, according to Reuters.
The announcement of mandatory standards to replace the voluntary guidelines from 2018 has prompted concerns among industry players, who say they need more time to manage existing stockpiles.
In Zhejiang province, local trade associations have requested that China’s National Association of Metal Material Trade push the implementation date to January 1, 2025, as reported by the Hangzhou Steel Trade Industry Association on WeChat. “It has exacerbated the sentiment of sell-off activities in a market plagued by high stocks and low demand amid the property downturn,” the post added.
Rebar production fell by 11.7pct to 102.35 mln tons in the first six months of this year compared to the same period last year, due to the ongoing weakness in the country’s property sector.
