Monthly Wire Rod and Rebar Market Report Aug 2020
2020-09-10 08:25:55 【Print】
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1. Market Highlights
Supported by the continuously rising production cost, wire rod and rebar prices in Chinese leading markets moved up gradually by RMB100-150/t (USD15-22/t) amid slight demand recovery this month. However, most markets still faced huge stockpiles after the traditional low season. Steel mills became less active in rebar production discouraged by continuously reduced profit and more active in wire rod production due to higher profit.
In the international market, wire rod and rebar prices in Malaysia and India were pulled up due to higher raw materials' prices like steel scrap and iron ore fines. Chinese steel mills continued to hike wire rod and rebar export prices this month.
Supported by the continuously rising production cost, wire rod and rebar prices in Chinese leading markets moved up gradually by RMB100-150/t (USD15-22/t) amid slight demand recovery this month. However, most markets still faced huge stockpiles after the traditional low season. Steel mills became less active in rebar production discouraged by continuously reduced profit and more active in wire rod production due to higher profit.
In the international market, wire rod and rebar prices in Malaysia and India were pulled up due to higher raw materials' prices like steel scrap and iron ore fines. Chinese steel mills continued to hike wire rod and rebar export prices this month.
