Monthly Wire Rod and Rebar Market Report Oct 2020
2020-11-11 08:37:45 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
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1. Market Highlights
Supported by the overall increasing production cost and slowly increasing demand from downstream industries, wire rod and rebar prices in Chinese leading markets moved up by around RMB100/t (USD15/t) in October. In the second half of this month, stocks in major markets began to go down obviously for further rising demand from downstream industries. Due to lower profit from wire rod and rebar than that from flat steel products, steel mills remained less active in wire rod or rebar production in October.
In the international market, wire rod and rebar prices in Malaysia and India fell back due to the weakening demand and cloudy outlook for the coming market. Chinese steel mills continued to raise wire rod and rebar export prices slightly this month due to higher production cost.
Supported by the overall increasing production cost and slowly increasing demand from downstream industries, wire rod and rebar prices in Chinese leading markets moved up by around RMB100/t (USD15/t) in October. In the second half of this month, stocks in major markets began to go down obviously for further rising demand from downstream industries. Due to lower profit from wire rod and rebar than that from flat steel products, steel mills remained less active in wire rod or rebar production in October.
In the international market, wire rod and rebar prices in Malaysia and India fell back due to the weakening demand and cloudy outlook for the coming market. Chinese steel mills continued to raise wire rod and rebar export prices slightly this month due to higher production cost.
