Monthly Wire Rod and Rebar Market Report May 2022
2022-06-10 09:17:16 【Print】
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1. Market Highlights
Due to the weakened demand from downstream industries under epidemics and decreased prices of raw materials, wire rod prices in major Chinese regions went down by RMB200-300/t (USD30-45/t) in May. Inventories in most regions kept going up and some steel mills had to cut production due to the deficit. Discouraged by lower prices in Chinese domestic market and softening demand from overseas market, wire rod and rebar export went down by around USD40/t this month but offers from China remained not attractive in the international market.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India declined further due to lower prices of raw materials and softening demand from downstream industries.
Due to the weakened demand from downstream industries under epidemics and decreased prices of raw materials, wire rod prices in major Chinese regions went down by RMB200-300/t (USD30-45/t) in May. Inventories in most regions kept going up and some steel mills had to cut production due to the deficit. Discouraged by lower prices in Chinese domestic market and softening demand from overseas market, wire rod and rebar export went down by around USD40/t this month but offers from China remained not attractive in the international market.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India declined further due to lower prices of raw materials and softening demand from downstream industries.
