Monthly Wire Rod and Rebar Market Report Jan 2023
2023-02-10 09:17:01 【Print】
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1. Market Highlights
Supported by increased prices of raw materials and rising expectation for the demand recovery after the lunar New Year holiday, wire rod and rebar prices in Chinese major market edged up by around RMB150/t (USD22/t) this month. Steel mills could gain scarce profit facing high cost. Supported by the appreciation of Chinese yuan and rising prices in domestic market, wire rod and rebar export prices from China went up by around USD50/t this month. However, overseas clients became more and more cautious in placing orders with limited demand.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India recorded an upward trend again this month, supported by higher prices of raw materials.
Supported by increased prices of raw materials and rising expectation for the demand recovery after the lunar New Year holiday, wire rod and rebar prices in Chinese major market edged up by around RMB150/t (USD22/t) this month. Steel mills could gain scarce profit facing high cost. Supported by the appreciation of Chinese yuan and rising prices in domestic market, wire rod and rebar export prices from China went up by around USD50/t this month. However, overseas clients became more and more cautious in placing orders with limited demand.
In the international market, wire rod and rebar prices in some Asian countries such as Malaysia and India recorded an upward trend again this month, supported by higher prices of raw materials.
