Monthly Wire Rod and Rebar Market Report Apr 2022
2022-05-11 09:01:12 【Print】
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1. Market Highlights
Discouraged by the softening demand from downstream industries under epidemics and lower prices of raw materials, wire rod prices in major Chinese regions went down by around RMB80/t (USD12/t) in April. Prices of rebar went up slightly by around RMB40/t (USD6/t) during the same time, supported by reduced supply, as most steel mills remained inactive in rebar production for scarce profit. Because RMB depreciated obviously and the demand in domestic market remained dim, wire rod and rebar export went down by around USD30/t this month.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India went to the downward trend after the sharp surge in the previous month, discouraged by softening demand from downstream industries.
Discouraged by the softening demand from downstream industries under epidemics and lower prices of raw materials, wire rod prices in major Chinese regions went down by around RMB80/t (USD12/t) in April. Prices of rebar went up slightly by around RMB40/t (USD6/t) during the same time, supported by reduced supply, as most steel mills remained inactive in rebar production for scarce profit. Because RMB depreciated obviously and the demand in domestic market remained dim, wire rod and rebar export went down by around USD30/t this month.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India went to the downward trend after the sharp surge in the previous month, discouraged by softening demand from downstream industries.
