Monthly Wire Rod and Rebar Market Report Jan 2022
2022-02-18 08:00:57 【Print】
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1. Market Highlights
Supported by continuous price rise of raw materials like iron ore fines and steel billet, wire rod and rebar stopped falling and moved up slightly by around RMB30/t (USD5/t) in major regions in China. However, as the demand from downstream industries shrank fast with the approaching of Chinese New Year holiday, so the price increase in most regions remained very limited while that in North China turned obvious, which was supported by the production cut for the Beijing Olympics. Steel mills showed much optimism for the coming market and lifted export prices again and again supported by higher raw materials.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India rebounded this month encouraged by continuous price increase of raw materials and tight supply.
Supported by continuous price rise of raw materials like iron ore fines and steel billet, wire rod and rebar stopped falling and moved up slightly by around RMB30/t (USD5/t) in major regions in China. However, as the demand from downstream industries shrank fast with the approaching of Chinese New Year holiday, so the price increase in most regions remained very limited while that in North China turned obvious, which was supported by the production cut for the Beijing Olympics. Steel mills showed much optimism for the coming market and lifted export prices again and again supported by higher raw materials.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India rebounded this month encouraged by continuous price increase of raw materials and tight supply.
