Monthly Wire Rod and Rebar Market Report Jun 2022
2022-07-12 14:25:38 【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
As the demand from downstream industries failed to pick up as expected, most traders and steel mills for wire rod and rebar lost confidence in the coming market gradually and promoted sales by cutting prices sharply this month. Prices for wire rod and rebar in major markets dropped by RMB400-500/t (USD60-75/t) in June. However, stocks kept running high 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 USD100/t this month.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India continued on the decline due to lower prices of raw materials and softening demand from downstream industries.
As the demand from downstream industries failed to pick up as expected, most traders and steel mills for wire rod and rebar lost confidence in the coming market gradually and promoted sales by cutting prices sharply this month. Prices for wire rod and rebar in major markets dropped by RMB400-500/t (USD60-75/t) in June. However, stocks kept running high 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 USD100/t this month.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India continued on the decline due to lower prices of raw materials and softening demand from downstream industries.
