Monthly Wire Rod and Rebar Market Report Aug 2021
2021-09-08 08:40:47 【Print】
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1. Market Highlights
Discouraged by the slow demand recovery from downstream customers and sharp price decline of iron ore fines, average prices of wire rod and rebar in Chinese major markets went down by around RMB20/t (USD3/t) and RMB150/t (USD23/t) respectively in August. The market failed to gain enough support from production cut policy as the reduction was lower than expected. Market participants showed cautious optimism for the market in September, when the traditional high season came. Due to higher prices from China than those in the international market, Chinese exporters showed little intention to cut prices and remained inactive in exporting. Chinese offers 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 some signs of moving up due to reduced supply of steel scrap. However, the demand from downstream industries failed to pick up.
Discouraged by the slow demand recovery from downstream customers and sharp price decline of iron ore fines, average prices of wire rod and rebar in Chinese major markets went down by around RMB20/t (USD3/t) and RMB150/t (USD23/t) respectively in August. The market failed to gain enough support from production cut policy as the reduction was lower than expected. Market participants showed cautious optimism for the market in September, when the traditional high season came. Due to higher prices from China than those in the international market, Chinese exporters showed little intention to cut prices and remained inactive in exporting. Chinese offers 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 some signs of moving up due to reduced supply of steel scrap. However, the demand from downstream industries failed to pick up.
