Monthly Wire Rod and Rebar Market Report May 2020
2020-06-11 08:22:23 【Print】
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1. Market Highlights
Supported by the demand recovery and increased prices for raw materials, wire rod and rebar prices in Chinese leading markets went up by around RMB200/t (USD28/t) in May. Stocks in major markets continued to be reduced this month but were a little higher than levels at the same period of past years. Steel mills kept active in producing construction steel especially rebar due to considerable profit.
In the international market, wire rod and rebar prices in Malaysia and India did not show obvious changes as there were few buying or selling activities after the lockdown for COVID-19. Chinese steel mills lifted wire rod and rebar export prices sharply on big increase in Chinese domestic market. However, few overseas customers could accept.
Supported by the demand recovery and increased prices for raw materials, wire rod and rebar prices in Chinese leading markets went up by around RMB200/t (USD28/t) in May. Stocks in major markets continued to be reduced this month but were a little higher than levels at the same period of past years. Steel mills kept active in producing construction steel especially rebar due to considerable profit.
In the international market, wire rod and rebar prices in Malaysia and India did not show obvious changes as there were few buying or selling activities after the lockdown for COVID-19. Chinese steel mills lifted wire rod and rebar export prices sharply on big increase in Chinese domestic market. However, few overseas customers could accept.
