Monthly Wire Rod and Rebar Market Report May 2019
2019-06-05 09:31:07 【Print】
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1. Market Highlights
Prices of wire rod and rebar in Chinese leading markets recorded a markdown of around RMB100/t (USD14/t) this month, discouraged by the shrinking demand from downstream industries and the escalating trade war between China and the United States. Prices of raw materials rebounded this month, hiking production cost for wire rod and rebar. However, steel mills kept being active in production on considerable profit. In the international market, prices of wire rod and rebar in Malaysia did not show big changes during the Ramadan. As the demand for wire rod and rebar will continue to weaken in June, while the supply will keep remaining sufficient, insiders think prices of wire rod and rebar in Chinese market will come down further in the coming month.
Prices of wire rod and rebar in Chinese leading markets recorded a markdown of around RMB100/t (USD14/t) this month, discouraged by the shrinking demand from downstream industries and the escalating trade war between China and the United States. Prices of raw materials rebounded this month, hiking production cost for wire rod and rebar. However, steel mills kept being active in production on considerable profit. In the international market, prices of wire rod and rebar in Malaysia did not show big changes during the Ramadan. As the demand for wire rod and rebar will continue to weaken in June, while the supply will keep remaining sufficient, insiders think prices of wire rod and rebar in Chinese market will come down further in the coming month.
