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Rebar prices are falling in China

Recent developments in China's steel industry reveal a significant change, especially in the construction steel market. The decrease in rebar prices compared to last week and the decrease in producers' profit margins show how the balances in the sector have changed.

Rebar prices are falling in China

While the average rebar prices in China decreased by 40 yuan/ton (5 USD) compared to last week, the profit margin of steel producers decreased slightly compared to the previous period. Mini process steel producers, especially in the Southwest region, experienced a 23% decrease in rebar costs and a 90% decrease in prices. Profit margins also decreased by 67%, reflecting the challenging conditions in the industry.

National construction steel transaction volume decreased by 16.9% monthly to 117,300 tons. This decline comes in line with a 35,900 tonnes monthly decline in major material consumption data during the traditional off-season. The total stock showed a slight recovery and increased to 17,666.8 million tons, indicating that the supply-demand imbalance in the sector continues.

In various regions of China, although real estate data is weak and efforts are made to support it with real estate policies, weather factors such as high temperatures in the north and heavy rains in the south negatively affect construction sites. This is becoming one of the hallmarks of the offseason.

The average price of Ф25 mm third quality rebar in major domestic cities is fixed at 3,691 yuan (508 USD).

The weak trend in steel prices, combined with supply and demand imbalances as well as weather factors, increases future uncertainties in the sector.

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