A preliminary product with an essentially round or cornered cross section is obtained by continuous casting. This product is subjected to a forging process, and is then formed into a rod with specified final dimensions of the cross section. The cast preliminary product is forged only after complete solidification for purposes of its structure improvement. At least in one work plane the cross section is reduced within a range of (1.5-5):1, while its spreading is prevented. Also claimed is an apparatus serving for rod production involves forging mandrel being joined to the casting mandrel by means of a mandrel bar.