In the week before last week, an obvious price rise was observed in the Chinese rebar and wire rod markets. However, there has been no improvement of demand, while the transaction volume has declined, leading to a price correction over the past week. However, increasing costs of iron ore, coke and billet have prevented wire rod and rebar prices from witnessing larger decreases.
It is thought that rebar and wire rod prices in the Chinese domestic market will fluctuate within a narrow range in the short term.