We establish a number of results about smooth and topological concordance of knots in $S^1times S^2$. The winding number of a knot in $S^1times S^2$ is defined to be its class in $H_1(S^1times S^2;mathbb{Z})cong mathbb{Z}$. We show that there is a unique smooth concordance class of knots with winding number one. This improves the corresponding result of Friedl-Nagel-Orson-Powell in the topological category. We say a knot in $S^1times S^2$ is slice (resp. topologically slice) if it bounds a smooth (resp. locally flat) disk in $D^2times S^2$. We show that there are infinitely many topological concordance classes of non-slice knots, and moreover, for any winding number other than $pm 1$, there are infinitely many topological concordance classes even within the collection of slice knots. Additionally we demonstrate the distinction between the smooth and topological categories by constructing infinite families of slice knots that are topologically but not smoothly concordant, as well as non-slice knots that are topologically slice and topologically concordant, but not smoothly concordant.
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