Monthly Wire Rod and Rebar Market Report Feb 2021
2021-03-11 08:11:11 【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
In early February, wire rod and rebar prices in Chinese leading markets fell slightly with shrinking demand from downstream industries before the Spring Festival holiday, while they rebounded sharply after the holiday due to a big surge from raw materials' prices. In the middle and late February, the demand from downstream industries did not recover obviously and stocks in major markets remained high. As a consequence, market ran inactively regardless of sharp price rises. Steel mills kept raising wire rod and rebar prices on better market expectation and higher prices from Chinese domestic market.
In the international market, wire rod and rebar prices in Malaysia and India went down slightly in February due to weakening market performance. However, steel mills showed much intention to raise prices on higher raw materials' prices and forthcoming demand recovery.
In early February, wire rod and rebar prices in Chinese leading markets fell slightly with shrinking demand from downstream industries before the Spring Festival holiday, while they rebounded sharply after the holiday due to a big surge from raw materials' prices. In the middle and late February, the demand from downstream industries did not recover obviously and stocks in major markets remained high. As a consequence, market ran inactively regardless of sharp price rises. Steel mills kept raising wire rod and rebar prices on better market expectation and higher prices from Chinese domestic market.
In the international market, wire rod and rebar prices in Malaysia and India went down slightly in February due to weakening market performance. However, steel mills showed much intention to raise prices on higher raw materials' prices and forthcoming demand recovery.
