Monthly Wire Rod and Rebar Market Report Aug 2019
2019-09-04 13:46:55 【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
Prices of wire rod and rebar in most Chinese leading markets kept falling in August, discouraged by the continuously weak demand from downstream industries. Considering high stocks pressure and little profit for rebar and wire rod, most steel mills showed more intention to cut production in August and September. In the international market, on Chinese declining prices, steel mills in Asian countries like Malaysia had to lower prices due to bad market performance in local market. Taking all factors into consideration, insiders think prices of wire rod and rebar in Chinese market would decline further in September, but the markdown will be limited.
Prices of wire rod and rebar in most Chinese leading markets kept falling in August, discouraged by the continuously weak demand from downstream industries. Considering high stocks pressure and little profit for rebar and wire rod, most steel mills showed more intention to cut production in August and September. In the international market, on Chinese declining prices, steel mills in Asian countries like Malaysia had to lower prices due to bad market performance in local market. Taking all factors into consideration, insiders think prices of wire rod and rebar in Chinese market would decline further in September, but the markdown will be limited.
