According to Global Industry Analysts, 19 new wire rod production lines were put into production in China in 2010, with an aggregate annual capacity of 14.35 million tonnes. As a result, China’s annual production capacity of wire rod reached 36.85 million tonnes.
GIA also stated that it expects the total value of wire rod consumption in the global market to reach USD 25.4 billion by 2015. It added that future steel demand in China would depend on the profitability of domestic steel companies and the energy saving and emission reduction policy of the Chinese government.