Monthly Wire Rod and Rebar Market Report Jul 2022
2022-08-12 09:22:50 【Print】
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1. Market Highlights
Amid weak demand from downstream industries and weakened confidence from suppliers, prices for wire rod and rebar in Chinese major markets continued on the sharp decline in early July. After the total decline of nearly RMB1,000/t (USD148/t) combining that in June, prices began to stabilize in the middle of July. Supported by rising prices of raw materials, wire rod and rebar prices showed slight rebound in late July. As a consequence, they totally went down by RMB300-400/t (USD44-59/t) this month compared with last month. Steel mills lost confidence in the coming market and reduced production in successions. Discouraged by lower prices in Chinese domestic market and softening demand from overseas market, wire rod and rebar export went down by USD60-70/t this month.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India continued on the decline due to lower prices of raw materials and softening demand from downstream industries.
Amid weak demand from downstream industries and weakened confidence from suppliers, prices for wire rod and rebar in Chinese major markets continued on the sharp decline in early July. After the total decline of nearly RMB1,000/t (USD148/t) combining that in June, prices began to stabilize in the middle of July. Supported by rising prices of raw materials, wire rod and rebar prices showed slight rebound in late July. As a consequence, they totally went down by RMB300-400/t (USD44-59/t) this month compared with last month. Steel mills lost confidence in the coming market and reduced production in successions. Discouraged by lower prices in Chinese domestic market and softening demand from overseas market, wire rod and rebar export went down by USD60-70/t this month.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India continued on the decline due to lower prices of raw materials and softening demand from downstream industries.
