Monthly Wire Rod and Rebar Market Report Jan 2021
2021-02-04 14:26:46 【Print】
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1. Market Highlights
Discouraged by the weakened demand from downstream industries, prices of wire rod and rebar in major Chinese markets went down in January, while those in northern parts of China struggled to move up due to reduced delivery. More materials went to southern parts of China and the price gap between southern and northern parts of China narrowed. In addition, rebar market softened more than wire rod market did in the month, as stocks of rebar went up more obviously in the traditional low season. With raw materials' prices rising further, steel mills' profit for producing wire rod and rebar decreased again, so steel mills became less active in production. They showed increased willingness to take orders from overseas market.
In the international market, wire rod and rebar prices in Malaysia and India went up in the first half of this month supported by increasing raw materials' prices but fell slightly in the second half of the month due to softened market performance.
Discouraged by the weakened demand from downstream industries, prices of wire rod and rebar in major Chinese markets went down in January, while those in northern parts of China struggled to move up due to reduced delivery. More materials went to southern parts of China and the price gap between southern and northern parts of China narrowed. In addition, rebar market softened more than wire rod market did in the month, as stocks of rebar went up more obviously in the traditional low season. With raw materials' prices rising further, steel mills' profit for producing wire rod and rebar decreased again, so steel mills became less active in production. They showed increased willingness to take orders from overseas market.
In the international market, wire rod and rebar prices in Malaysia and India went up in the first half of this month supported by increasing raw materials' prices but fell slightly in the second half of the month due to softened market performance.
