Monthly Wire Rod and Rebar Market Report May 2021
2021-06-11 08:30:31 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
Please contact us for a subscription.
Please contact us for a subscription.
1. Market Highlights
Encouraged by the sharp price rises of raw materials, wire rod and rebar soared by around RMB1,100/t (USD172/t) in the first half of May, while they dropped fast in the second half of May after Chinese government called for stabilizing the market. At the end of the month, prices rebounded a little bit after the big drop. As a consequence, by the end of the month, wire rod and rebar prices were similar to a month ago. Following the up-and-down trend in Chinese domestic market, export prices kept going up in the first half of this month while fell back gradually in the second half.
In the international market, wire rod and rebar prices in some countries such as Malaysia and India continued to move up this month while they began to stabilize at the end of the month after the demand from downstream customers weakened, as customers saw the sharp price decline in China.
Encouraged by the sharp price rises of raw materials, wire rod and rebar soared by around RMB1,100/t (USD172/t) in the first half of May, while they dropped fast in the second half of May after Chinese government called for stabilizing the market. At the end of the month, prices rebounded a little bit after the big drop. As a consequence, by the end of the month, wire rod and rebar prices were similar to a month ago. Following the up-and-down trend in Chinese domestic market, export prices kept going up in the first half of this month while fell back gradually in the second half.
In the international market, wire rod and rebar prices in some countries such as Malaysia and India continued to move up this month while they began to stabilize at the end of the month after the demand from downstream customers weakened, as customers saw the sharp price decline in China.
