Monthly Wire Rod and Rebar Market Report Jun 2023

After the price decline of steel products for more than two months, the bullish sentiment rose gradually this month and Chinese yuan kept weakening in June, so prices of wire rod and rebar prices in Chinese major regions rebounded by RMB200-300/t (USD28-41/t) in June.Asian Metal Copyright Steel mills showed rising desire in production after they began to gain profit from losses.Asian Metal Copyright Steel mills showed rising desire in production after they began to gain profit from losses.Asian Metal CopyrightAfter the price decline of steel products for more than two months, the bullish sentiment rose gradually this month and Chinese yuan kept weakening in June, so prices of wire rod and rebar prices in Chinese major regions rebounded by RMB200-300t USD28-41t in June.Asian Metal Copyright Upon higher prices in domestic market but the depreciation of Chinese yuan, wire rod and rebar export prices did not show big changes this month.

In the international market, wire rod and rebar market in Malaysia, India and Thailand ran slowly this month as the traditional low season came. However, prices decline slowed down temporarily and even showed some signs of rebounding due to firm cost after the USD became stronger.

.Asian Metal Copyright Upon higher prices in domestic market but the depreciation of Chinese yuan, wire rod and rebar export prices did not show big changes this monthAsian Metal Copyright