Monthly Wire Rod and Rebar Market Report Feb 2020
2020-03-11 09:35:07 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
Please contact us for a subscription.
Please contact us for a subscription.
1. Market Highlights
Under the coronavirus outbreak, most downstream industries delayed restarting business after the Chinese New Year holiday. Prices of wire rod and rebar in Chinese leading markets dropped by around RMB300/t (USD43/t) this month, discouraged by the stagnant market performance. Forced by the large inventories and tight raw materials supply, most steel mills had to slightly reduce production and they were not confident of the coming market.
In the international market, steel mills in Malaysia went up a little bit on slightly growing demand from downstream industries. However, prices in India edged down on weakening demand. Chinese steel mills cut export prices to promote sales in the international market this month.
Under the coronavirus outbreak, most downstream industries delayed restarting business after the Chinese New Year holiday. Prices of wire rod and rebar in Chinese leading markets dropped by around RMB300/t (USD43/t) this month, discouraged by the stagnant market performance. Forced by the large inventories and tight raw materials supply, most steel mills had to slightly reduce production and they were not confident of the coming market.
In the international market, steel mills in Malaysia went up a little bit on slightly growing demand from downstream industries. However, prices in India edged down on weakening demand. Chinese steel mills cut export prices to promote sales in the international market this month.
