Published on 30 July 2024
In July, the global rebar market exhibited a notable steadiness, reflecting a period of relative stability across major regions. This article delves into the price trends observed in Turkey, the United States, China, and Europe, providing a comprehensive overview of the market dynamics during this period.
Turkey: Stability Amidst Market Calm
From July 1 to July 19, rebar prices in Turkey remained steady at $575–580 per tonne FOB. This stability has been consistent since mid-May, indicating a balanced market with neither significant upward nor downward pressures. The Turkish rebar market’s steadiness can be attributed to a combination of stable demand and supply conditions and a lack of major disruptions in the global steel supply chain.
United States: Steady Prices Despite Reduced Activity
In the United States, rebar prices have held firm at around $760–780 per tonne. Despite a noticeable decrease in buyer activity over the past four weeks, the supply has remained adequate to meet the existing demand. This equilibrium suggests that the market is well-balanced, with producers able to maintain price levels despite reduced purchasing activity. The steady prices also reflect a broader trend of stability in the US construction sector, which is a major consumer of rebar.
China: Slight Decline in Prices
China’s rebar market saw a slight decline in prices, with rates dropping to $448–451 per tonne as of July 19, down from $461–464 per tonne on June 28, marking a 2.8% decrease. This decline can be attributed to several factors, including fluctuations in raw material costs, changes in domestic demand, and adjustments in production levels. Despite this decrease, the overall market remains relatively stable, with prices still within a manageable range for both producers and consumers.
Europe: Marginal Decrease in Northern Europe
In the European market, rebar prices have experienced a marginal decrease since the start of July. Quotations in Northern Europe dropped by €10 per tonne between June 28 and July 19, settling at €620–630 per tonne. This slight reduction reflects a cautious market sentiment, with buyers and sellers adjusting to minor supply and demand dynamics shifts. Steady construction activity and a balanced supply chain further support the European market’s stability.
Conclusion
Overall, the global rebar market in July has been characterized by a period of steadiness, with prices remaining relatively stable across key regions. While there have been minor fluctuations, such as the slight decline in China and the marginal decrease in Northern Europe, the general trend points to a balanced market. This stability is crucial for the construction industry, which relies heavily on predictable rebar prices for project planning and budgeting. As we move forward, monitoring these trends will be essential for stakeholders to navigate the global rebar market effectively.
Leave a Reply