Monthly Wire Rod and Rebar Market Report Jul 2021
2021-08-10 08:32:37 【Print】
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1. Market Highlights
Supported by the production cut policy, prices of wire rod and rebar in mainstream markets of China rebounded by around RMB300/t (USD46/t) and RMB500/t (USD77/t) respectively in July. The demand from downstream industries remained soft in the traditional low season. Anyhow, traders showed some expectation for price rise considering the reduced supply from steel mills. Following the upward trend in Chinese domestic market, export prices went up a little bit in July but remained not attractive in the international market.
In the international market, wire rod and rebar prices in some countries such as Malaysia and India showed small changes amid reduced supply and weak demand due to the COVID-19.
Supported by the production cut policy, prices of wire rod and rebar in mainstream markets of China rebounded by around RMB300/t (USD46/t) and RMB500/t (USD77/t) respectively in July. The demand from downstream industries remained soft in the traditional low season. Anyhow, traders showed some expectation for price rise considering the reduced supply from steel mills. Following the upward trend in Chinese domestic market, export prices went up a little bit in July but remained not attractive in the international market.
In the international market, wire rod and rebar prices in some countries such as Malaysia and India showed small changes amid reduced supply and weak demand due to the COVID-19.
