Thermo Mechanically Treated Bar (TMT Bar) Price Trend and Forecast

TMT Bar Regional Price Overview

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

Thermo Mechanically Treated Bar (TMT Bar) Price Trend for the First Half of 2024

Asia

During the first half of 2024, the price trend of TMT bars in China was marked by significant volatility, primarily driven by weak demand in the real estate and infrastructure sectors. The ongoing financial struggles of local governments led to delays and cancellations of numerous infrastructure projects, reducing demand for steel bars. As a result, prices faced substantial downward pressure, with producers experiencing shrinking profit margins and, in some cases, losses. In response, steel bar producers urged authorities to implement measures to restrict output and stabilize prices.
 

Thermo Mechanically Treated Bars Price Chart

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Some producers in Shanxi province reduced furnace capacity, temporarily halting production to curb the supply and support prices. Despite these efforts, the overall market sentiment remained bearish due to the persistent challenges in the downstream construction sectors. The futures market also played a role, with speculation further exacerbating price fluctuations, prompting calls for tighter supervision. Overall, the TMT bar market in China experienced a challenging first half of the year, reflecting broader economic difficulties and sector-specific challenges.

Europe

In the early months of the year, the price trend of the TMT bar acquired some momentum as the demand from the downstream industries improved gradually. As a result, the traders and manufacturers of the commodity increased their production volumes in order to match the prospects of growing procurement rates. However, as the month progressed, the demand from the downstream increased and declined, registering a significant decline in April and a frail recovery in the rest of the months. The major cause of this slowdown was the setback received from the automotive industries as compared to the previous year, leading to the southward trail of TMT bar prices.

North America

The fluctuations in the TMT bar market witnessed in the European and Asian countries were seen in the North American market as well. Similar to these regions, initially, the demand from the downstream industries remained on the positive side, raising optimism among the market players. However, as the global trading tensions accelerated, the consumers of the commodity opted for a cautious stance and halted any bulk purchases. Further, in the first quarter, the low water levels in the Panama Canal and the collapse of the Baltimore Bridge in the second quarter lowered the overall export statists of the TMT bar, visible in the lower-end oscillation of its prices.

Analyst Insight

According to Procurement Resource, the price of Thermo Mechanically Treated Bar is estimated to be driven by the global automotive industries; however, it might be hampered by weak global trading activities.
 

Thermo mechanically treated bar (TMT Bar) Price Trend for the Second Half of 2023

Asia

In the last two quarters of 2023, thermo mechanically treated bar (TMT Bar) prices in the Asian region primarily varied at the lower end of the spectra. Monthly price declines of an average of one to three percent were observed in India for steel up until the conclusion of the December quarter.

Building on the decline in steel prices from the previous quarter, the Indian market's thermo mechanically treated bar (TMT Bar) price index saw further declines in figures based on the subdued construction and automotive sales. However, in the Chinese thermo mechanically treated bar (TMT Bar) market, price patterns began to decline in October 2023 only and were able to maintain stability in the previous months. But in the last quarter, the consumers adopted a wait-and-see approach, which hampered the movement of the thermo mechanically treated bar (TMT Bar) price trend.

Europe

During the last quarter of 2023, price patterns in the European thermo mechanically treated bar (TMT Bar) market was seen to be continuously declining. The traders anticipated that a decline in production activities might help in stabilizing the declining prices of thermo mechanically treated bar (TMT Bar), but the demand for the product fell by unexpected margins, and even with lowered rates of production, the thermo mechanically treated bar (TMT Bar) price trend failed to gain any momentum resulting in the downfall of the price trend.

North America

During the specified time, there were mixed trends observed in the US thermo mechanically treated bar (TMT Bar) market. Due to initial supply shortages in the market, prices were high, but the incline was limited to the third quarter only.

In the latter months, it was noticed that stockpiles were increasing exponentially, which led to a decline in pricing as the traders started practicing destocking activities by offering huge discounts on bulk purchases, but this did not show any relief in the downfall of the thermo mechanically treated bar (TMT Bar) price trend.

Analyst Insight

According to Procurement Resource, the price trend of Thermo mechanically treated bar (TMT Bar) is expected to follow a zig-zag movement around a mean value in the upcoming quarters as the bleak interest of the automotive and construction industries is expected to stabilize.
 

Thermo Mechanically Treated Bars (TMT Bars) Price Trend for First Half of 2023

Asia

The prices of thermo mechanically treated bars (TMT Bars) increased in the first quarter of 2023 with support from the construction and raw materials sector. The domestic market of thermo mechanically treated bars (TMT Bars) in China witnessed a positive market momentum after a long period of COVID restrictions and New Year holidays.

In the initial months of the second quarter, the prices remained in the positive zone, but soon, the activities of the construction industry began to decline. In addition to this, the overseas industries also reduced their interest in the Asian thermo mechanically treated bars (TMT Bars) markets, hampering the growth of thermo mechanically treated bars (TMT Bars) prices.

Europe

In European countries, the prices of thermo mechanically treated bars (TMT Bars) surged in the first quarter of 2023 due to high procurement from the construction sector, especially in the domestic sectors. The second quarter of 2023 was much more volatile than the first one, as the market trend of thermo mechanically treated bars (TMT Bars) fluctuated throughout the quarter.

The most significant influencing factor was the negative impact of the labor crisis and the plunging economic condition of the European countries. The labor strikes led to a halt in construction activities, and with high uncertainties in the market, many consumers remained hesitant to place large orders, thus pushing the prices of thermo mechanically treated bars (TMT Bars) toward a negative trajectory.

North America

The incline in prices of thermo mechanically treated bars (TMT Bars) in the first quarter caused by the revival of the construction sector was adversely affected by the sliding economic conditions, debt crises, and low interest of consumers in the second quarter of 2023. The weak movement of the construction industries, slowing down of infrastructural activities, rising bank interest rates, and increasing stockpiles of thermo mechanically treated bars (TMT Bars) in the region combined affected the TMT Bars price trend.

Analyst Insight

According to Procurement Resource, the price trend of Thermo Mechanically Treated Bars (TMT Bars)  is expected to decline majorly due to weak economic conditions and declining demand from the end-user sector.

Procurement Resource provides latest prices of Thermo Mechanically Treated Bars (TMT Bars). 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.