Steel Rebar Price Trend and Forecast

Description

During the third quarter of 2022, Steel Rebar Price witnessed a fluctuating price trend in the North American market. Steel rebar prices in the United States continued to fall in July and August 2022 due to a demand-supply imbalance, despite an inflow of imports and steadily falling raw material prices. According to suppliers, US Steel Rebar prices remained broadly stable in September as import prices increased as the construction industry remained active. Furthermore, it was reported that overseas producers faced higher costs. Energy prices in Europe and Turkey have risen due to a reduction in the Russian natural gas supply. Steel rebar prices have fallen due to service centers delaying purchases due to weak consumer demand, which has been exacerbated by labor and part shortages. Fears that the United States is already in or on the verge of a recession have also reduced purchases. As a ripple effect, the Steel Rebar (8 mm) prices for Ex-US Midwest (USA) settled at USD 1014/MT.

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