Steel Rebar Price Trend and Forecast

Regional Price Overview

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

Steel Rebar Price Trend for the Q1 of 2024

Steel rebars are reinforcements made out of steel that are primarily used in the construction sector to increase the tensile strength and build quality of the structure. Since these reinforcements are cast out of steel, their price trends align very closely with each other. During the said period of Q1’24, there was a slight depreciation that was witnessed in the steel rebar industry.

Steel Rebar Price Chart

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Chinese real estate market has been witnessing a downtime for a long time now, which significantly reduced the steel rebar construction in the country. In India, the public infrastructure projects have been supporting the demands, however, the private sector demands are limited here as well.

The European and American construction markets also have been dwindling because of the various geopolitical and geoeconomic uncertainties. In the post-COVID era, the construction industry has been facing a difficult time in rebuilding itself; because of this, the price trend was pushed down. Other than this, the filled-up inventories also didn’t leave much room for the prices to improve.

Analyst Insight

According to Procurement Resource, the Steel Rebar market is expected to continue behaving in a similar manner for the time being. The inventories are well stocked to support the demands for some time going forward.

Steel Rebar Price Trend for the October - December of 2023

Steel Rebar is a type of steel reinforcement that is primarily used in the construction industry to increase the tensile strength of structures. Hence, the market trends for steel rebar are largely influenced by the performance of the construction industry and the prices of feedstock steel. During the given period of Q4’23, the steel rebar prices were observed to be narrowing down in the majority of the important global markets.

Lower investment in the construction sector in most countries in the winter season and impending holidays kept the steel rebar demands at a lower level. On the other hand, the steel market was also not able to provide much upstream cost support. During the latter months of the quarter, suppliers acquired more of a wait-and-watch approach toward the steel rebar market, given the gloomy market sentiments. Overall, mixed market sentiments were witnessed in the steel rebar market.

Analyst Insight

According to Procurement Resource, the Steel Rebar price trends are likely to oscillate in the coming months given the current market volatilities and complex trade and logistical scenario.

Steel Rebar Price Trend for the July - September of 2023

Since the Steel Rebar is most commonly used in the construction sector with concrete for reinforcement purposes, the price graph varies closely with the demands from the construction sector. During the third quarter of the year 2023, steel rebar prices continued on the downhill trajectory. The biggest downgrading factor remained the slump in the Chinese construction sector.

Because of feeble domestic demands, the Chinese suppliers flooded the international market with excess products, thus negatively impacting the steel rebar prices in the global markets as well. The Indian steel rebar market showed some positive movement since the rapid public infrastructure development was consuming a lot of steel rebar. Overall, the global steel rebar markets only receded during this time as the steel rebar price index consistently registered falling numbers.

Analyst Insight

According to Procurement Resource, Steel Rebar prices are expected to oscillate further in the coming quarter, considering the current conditions of the global economy and downstream demand.

Steel Rebar Price Trend for the First Half of 2023

Steel Rebar prices continued to plunge in the first half of the year 2023. The construction sector laid low, and the surplus stocks didn’t let the price trends redeem. The situation was further worsened when the Government of India imposed a 15% export duty on steel and its associated items, which led to a considerable decline in steel exports.

And with this decline in sales, the prices touched a two-year low limit within the said period. Hence, the Steel Rebar prices tottered on the lower end of the price scale. Along with the feeble demands from the construction sector, the depressing cost support from the feedstock steel was also responsible for such poor market performance by Steel Rebar.

Analyst Insight

According to Procurement Resource, the price trends for the Steel Rebar market are likely to depreciate further since both domestic and global consumption has taken a hit, and the stockpiles are running high.

Steel Rebar Price Trend for the Second Half of 2022

Steel Rebar is primarily consumed by the infrastructure and construction sectors to provide tensile strength to concrete structures. The Steel Rebar price trends during the last six months of 2022 varied with the feedstock steel prices and the demands posed by the construction sector.

The world was struggling with high global inflation rates in the wake of the Russia and Ukraine conflict. Further, the Chinese market was still harrowing in sustaining itself after a long lockdown. In these situations, where people were worried about rising food and energy bills, the construction requirements took a backseat. The demand for Steel Rebar started falling drastically, and the price trends swung downward for the entire second half of 2022.

Analyst Insight

According to Procurement Resource, not much rectification is anticipated in the Steel Rebar market going forward. Since the inventories are heavily stocked, even normal demands will not be able to lift the market immediately.

Steel Rebar Price Trend for the Second Quarter of 2022

North America

The US Steel Rebar market in North America witnessed mixed attitudes during the second quarter of 2022, with prices showing small swings, steady demand, and imports offering some challenges. Supply remained scarce, particularly in Florida, despite distributors and traders for steel rebar being more bullish about stockpiles than in the past.

Due to rising imports and freight rates as well as increased port congestion and transportation costs from the ports, Mills has announced steel rebar price increases. Additionally, domestic producers lack strong incentives to agree to cut pricing. Despite the ongoing decline in import prices, significant purchases have not been made. Market members claim that while production and new orders have slowed, the backlog of work has increased.

Europe

Prices for Russian Steel Rebar decreased in the second quarter of 2022 as a result of weak demand and few deals on the domestic market. Market players claim that the impact on demand for steel rebar was worsened by weak internal demand amid growing worries about the nation's economic development and mills' limited export due to trade sanctions.

Few Russian exporters are also eager to trade because of the threat of sanctions or banks declining to finance deals, weak terminal demand, and escalating inflationary pressures. The Ukraine War, slower production growth, poorer local demand, fewer export orders, increased cost pressures, and other factors all contributed to a sharp decline in steel rebar prices in the United Kingdom.

Asia

Due to a number of variables, including escalating geopolitical tension, supply-chain interruptions, escalating inflationary pressures, and COVID-19, the price of steel rebar in the Asian market saw a modest decline during the second quarter of 2022. Steel Rebar prices had modest increases, according to Chinese market participants, with movements and feelings impacted by an increase in COVID-19 instances.

The conflict between Russia and Ukraine, with its wide-ranging effects, particularly on logistics and raw resources, and the sharp increase of COVID-19 cases, have had a double-edged effect on supply and demand-side movements. In addition, India raised export taxes on bars by 15% beginning on May 22 in an effort to temper the steep rise in domestic rebar prices.

Procurement Resource provides latest prices of Steel 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.