Monthly Wire Rod and Rebar Market Report Nov 2021
2021-12-10 09:30:30 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
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1. Market Highlights
Due to the decreased prices of raw materials like iron ore fines and coke, as well as weak demand from downstream industries, prices of wire rod and rebar in Chinese leading markets fell by RMB500-600/t (USD79-95/t) in the month. Most traders and downstream customers remained reluctant to hold stocks after the sharp price decline in recent two months. Steel mills especially those in northern parts of China became active in exporting to release some sales pressure. The export prices went down obviously this month, following the sharp decline in domestic market. However, overseas customers showed cautious attitudes when prices did not get rid of the downward trend.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India went down continuously this month due to reduced export and increased supply in local markets when prices from China became more competitive.
Due to the decreased prices of raw materials like iron ore fines and coke, as well as weak demand from downstream industries, prices of wire rod and rebar in Chinese leading markets fell by RMB500-600/t (USD79-95/t) in the month. Most traders and downstream customers remained reluctant to hold stocks after the sharp price decline in recent two months. Steel mills especially those in northern parts of China became active in exporting to release some sales pressure. The export prices went down obviously this month, following the sharp decline in domestic market. However, overseas customers showed cautious attitudes when prices did not get rid of the downward trend.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India went down continuously this month due to reduced export and increased supply in local markets when prices from China became more competitive.
