Wire Rod and Rebar Market Report February 2017
2017-03-01 09:29:55 【Print】
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Influenced by the government’s restriction on steel mills’ production, steel prices of wire rod and rebar in the futures market showed obvious signs of moving up after the Chinese New Year. Supported by this, prices in the spot market rebounded sharply by RMB500-700/t (USD73-102/t) this month. As the government kept unwavering in eliminating excess steel production capacity, traders and producers showed some optimism for the coming market. Insiders predict that prices for wire rod and rebar are likely to go up further in March.
