Wire Rod and Rebar Market Report August 2014

August is traditionally the off-season for construction steel consumption, and prices for wire rod and rebar demonstrated a full-scale downward trend in the major Chinese markets during this period. Moreover, lower raw material prices also contributed to the decline in the price of wire rod and rebar.Asian Metal CopyrightAugust is traditionally the off-season for construction steel consumption, and prices for wire rod and rebar demonstrated a full-scale downward trend in the major Chinese markets during this period.Asian Metal Copyright Although September is considered the peak season for the steel industry, the market is struggling to improve as the crude steel output remains at a relatively high level.Asian Metal Copyright Moreover, lower raw material prices also contributed to the decline in the price of wire rod and rebar.Asian Metal Copyright As a result, insiders believe prices for wire rod and rebar will maintain their downward trend next month.