Monthly Wire Rod and Rebar Market Report Jul 2020
2020-09-04 10:07:58 【Print】
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1. Market Highlights
Encouraged by the sharply increased raw materials' prices, wire rod and rebar prices in Chinese leading market recorded a markup of around RMB60/t (USD9/t) in July. However, stocks in major markets continued to move up in the rainy season with lower operation in building sites. As raw materials' prices rebounded more than wire rod and rebar prices did in July, steel mills' profit was reduced continuously and they became less active in wire rod or rebar production.
In the international market, wire rod and rebar prices in Malaysia and India climbed up on the demand recovery after the COVID-19 as well as increasing production cost. Chinese steel mills still tried to hike wire rod and rebar export prices further this month.
Encouraged by the sharply increased raw materials' prices, wire rod and rebar prices in Chinese leading market recorded a markup of around RMB60/t (USD9/t) in July. However, stocks in major markets continued to move up in the rainy season with lower operation in building sites. As raw materials' prices rebounded more than wire rod and rebar prices did in July, steel mills' profit was reduced continuously and they became less active in wire rod or rebar production.
In the international market, wire rod and rebar prices in Malaysia and India climbed up on the demand recovery after the COVID-19 as well as increasing production cost. Chinese steel mills still tried to hike wire rod and rebar export prices further this month.
