Monthly Wire Rod and Rebar Market Report Mar 2020
2020-04-10 08:50:05 【Print】
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1. Market Highlights
With the demand from downstream industries recovering slowly in March, prices of wire rod and rebar in Chinese leading markets showed some signs of rebounding. However, stocks were consumed slowly, so it was difficult for prices to go up firmly . What was worse, under the COVID-19 outbreak in the global market, the export shrank sharply, which caused increasing pressure on domestic sales . Anyhow, steel mills were relatively active in production long steels as flat steel prices decreased faster this month.
In the international market, wire rod and rebar prices in Malaysia and India went down in the first half of this month due to the reducing demand and they were weakly stable in the second half when their government locked down the countries. Chinese steel mills had to cut wire rod and rebar export prices to attract orders from overseas market.
With the demand from downstream industries recovering slowly in March, prices of wire rod and rebar in Chinese leading markets showed some signs of rebounding. However, stocks were consumed slowly, so it was difficult for prices to go up firmly . What was worse, under the COVID-19 outbreak in the global market, the export shrank sharply, which caused increasing pressure on domestic sales . Anyhow, steel mills were relatively active in production long steels as flat steel prices decreased faster this month.
In the international market, wire rod and rebar prices in Malaysia and India went down in the first half of this month due to the reducing demand and they were weakly stable in the second half when their government locked down the countries. Chinese steel mills had to cut wire rod and rebar export prices to attract orders from overseas market.