Monthly Wire Rod and Rebar Market Report Oct 2022
2022-11-08 17:44:24 【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
Since the demand from downstream industries failed to pick up as expected, wire rod and rebar prices in Chinese major regions declined by around RMB200/t (USD28/t) in October. Pessimism spread across the market and steel mills lost confidence in the coming market, cutting production one after another to reduce losses. Due to the depreciation of Chinese yuan and weakening demand from overseas market, wire rod export prices from China fell further this month.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India showed some signs of weakening regardless of the firm prices of raw materials. Demand from downstream industries continued to stay weak.
Since the demand from downstream industries failed to pick up as expected, wire rod and rebar prices in Chinese major regions declined by around RMB200/t (USD28/t) in October. Pessimism spread across the market and steel mills lost confidence in the coming market, cutting production one after another to reduce losses. Due to the depreciation of Chinese yuan and weakening demand from overseas market, wire rod export prices from China fell further this month.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India showed some signs of weakening regardless of the firm prices of raw materials. Demand from downstream industries continued to stay weak.
