Monthly Wire Rod and Rebar Market Report May 2023
2023-06-12 17:49:57 【Print】
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1. Market Highlights
Discouraged by weakened demand from downstream industries and lower prices of raw materials, prices of wire rod and rebar prices in Chinese major regions dropped by RMB200-300/t (USD28-42/t) in May. Fewer steel mills kept cutting production this month as their cost went down more obviously. Discouraged by continuously falling prices in domestic market, wire rod and rebar export prices from China went down further this month and offers from China began to show more competition compared with peers.
In the international market, wire rod and rebar prices in Malaysia, India and Thailand recorded a downward trend again this month, due to lower prices of raw materials and softening demand from downstream industries.
Discouraged by weakened demand from downstream industries and lower prices of raw materials, prices of wire rod and rebar prices in Chinese major regions dropped by RMB200-300/t (USD28-42/t) in May. Fewer steel mills kept cutting production this month as their cost went down more obviously. Discouraged by continuously falling prices in domestic market, wire rod and rebar export prices from China went down further this month and offers from China began to show more competition compared with peers.
In the international market, wire rod and rebar prices in Malaysia, India and Thailand recorded a downward trend again this month, due to lower prices of raw materials and softening demand from downstream industries.
