Monthly Wire Rod and Rebar Market Report Nov 2019
2019-12-12 09:23:49 【Print】
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1. Market Highlights
In November, wire rod and rebar market in most Chinese markets went up gradually, benefiting from the rise in the futures market. Stocks were consumed fast when prices rebounded. Prices in southern parts of China increased much more than those in northern parts, causing enlarged prices gap, which would accelerate delivery from northern to southern parts of China in the coming month. Steel mills' profit went up this month and became more active in production.
In the international market, steel mills in Malaysia remained relatively firm and those in India moved up slightly after the government tried to push local economy. Steel mills in China lifted wire rod and rebar export prices significantly on sharp rise in domestic market but received resistance from overseas customers.
In November, wire rod and rebar market in most Chinese markets went up gradually, benefiting from the rise in the futures market. Stocks were consumed fast when prices rebounded. Prices in southern parts of China increased much more than those in northern parts, causing enlarged prices gap, which would accelerate delivery from northern to southern parts of China in the coming month. Steel mills' profit went up this month and became more active in production.
In the international market, steel mills in Malaysia remained relatively firm and those in India moved up slightly after the government tried to push local economy. Steel mills in China lifted wire rod and rebar export prices significantly on sharp rise in domestic market but received resistance from overseas customers.
