Rebar Price Trend and Forecast

Rebar Regional Price Overview

Get the latest insights on price movement and trend analysis of Rebar in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Rebar Price Trend for the First Half of 2024

In the first half of 2024, rebar prices experienced fluctuations driven by a combination of weak demand, sufficient supply, and varying regional market dynamics. Globally, the rebar market saw a general downward trend, with prices declining in several key regions, largely due to the subdued construction activity that failed to support a stronger market for long products. In Turkey, rebar prices saw a slight decrease initially, but towards the end of May, prices stabilized, even seeing a minor uptick as local producers tested market responses to new price floors.
 

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The Turkish rebar market was characterized by stagnant demand, with most sales directed towards a few countries, while major European buyers remained largely inactive. This lack of demand kept Turkish mills operating at low capacity, with production expected to decline further due to upcoming maintenance and the holiday season.

In Europe, rebar prices fluctuated differently across regions. Northern Europe experienced a slight decline in prices due to fierce competition among manufacturers, with some large companies reducing prices to maintain order volumes despite the weak construction activity. In Italy, however, rebar prices managed to increase slightly in May, driven by a temporary rise in consumer activity and production cuts by local steelmakers to balance supply and demand. Despite this, the overall demand from the construction sector remained insufficient to sustain a prolonged price increase, leading to expectations of price stabilization or a potential decline in the near term.

In North America, rebar prices also declined during the first half of the year due to weakening demand and sufficient supply. The slowdown in construction activity and delayed funding for infrastructure projects added pressure on rebar prices. The North American market, similar to other regions, faced challenges from low scrap prices, which further influenced the downward trend.

Meanwhile, in China, rebar prices showed some resilience in May, supported by government incentives for the real estate market and interest rate cuts by the Chinese Central Bank. However, the market faced negative price dynamics towards the end of the period due to changes in national standards, leading to a drop in prices as traders unloaded existing stocks. Overall, rebar prices in China were expected to remain low, with high inventories and low demand continuing to influence market conditions. Across all regions, the first half of 2024 was marked by a cautious and challenging environment for rebar prices, with market participants closely monitoring supply-demand balances and external economic factors.

Analyst Insight

According to Procurement Resource, the price of Rebar is expected to remain more or less stagnant in the forthcoming quarters as well as the momentum set by the previous months is likely to be moderately supported by global demand and evolving economic policies.
 

Rebar Price Trend for the Second Half of 2023

In the third and fourth quarters of 2023, global rebar prices experienced fluctuations across various markets, particularly in Turkey, China, and the US. In Turkey, prices surged due to increased production costs and limited export opportunities from North African countries. However, demand began to go southwards towards the end of November, although the market received a boost from renewed purchases by Israel and Yemen, this was still insufficient in keeping the market trend of rebar upwards.

In the US, prices remained stable through most of H2 of 2023 but declined in the last month amid reduced construction activity and stagnant procurement rates of other downstream industries. Meanwhile, in China, rebar prices stabilized amid limited demand, with producers cautious about raising prices to avoid losing sales volume.

The manufacturers anticipated subdued demand to persist through the winter months, with some traders postponing purchases until after the Spring Festival. Additionally, Ukraine's exports saw a significant decline in revenues and volumes from July to December '23, projecting a negative influence on the rebar price trend.

Analyst Insight

According to Procurement Resource, the price of Rebar is estimated to struggle with continuous fluctuations in trading activities and demand dynamics from the downstream industries.
 

Rebar Price Trend for the First Half of 2023

Rebar prices experienced mixed market trend during the said period of H1’23. The consumer demands from the construction sector, along with the feedstock steel costs, drove the Rebar market sentiments. In Asia, especially the Chinese market, the construction industry struggled severely because of the stretched lockdowns put in place to contain Covid 19 pandemic. And when the lockdowns were abolished, the Rebar demands didn’t pick up immediately.

So, with a slow improvement in the construction business, a rise in Rebar market trend was observed in Q1’23 as the prices rose by around 2% within the first three months. However, with improved global supply chains, a slump in prices was observed in the second quarter since Q2 closed at an average spot price of about 514 USD/MT in June’23. Overall, mixed market sentiments were observed.

Analyst Insight

According to Procurement Resource, after tribulations in the Rebar market trend, the prices are anticipated to seek stability in the coming months.

Procurement Resource provides latest prices of Rebar. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.