Steel Wire Rod Prices Trend | Pricing | Database | Index | News | Chart
North America
In the first quarter of 2024, the Steel Wire Rod market in North America faced several challenges that impacted prices. Global supply chain issues, such as port congestion and shipping delays, led to a decrease in demand for Steel Wire Rods. Rising raw material costs further contributed to price fluctuations. Ongoing trade disturbances between major economies also affected market sentiment, resulting in a pessimistic outlook.
In the United States, the Steel Wire Rod market experienced moderate demand, particularly with reduced consumption in the automotive and construction industries. Despite this, the market sentiment remained stable, with a moderate supply. However, due to lower consumption rates, there was an increase in the availability of Steel Wire Rods compared to the same quarter of the previous year. Wire Rod (A36-8 mm) Ex Texas was priced at USD 1395/MT during this quarter.
To summarize, the Steel Wire Rod market in North America encountered several challenges during the first quarter of 2024, leading to a bearish outlook and price fluctuations.
APAC
In the first quarter of 2024, the Steel Wire Rod market in the APAC region experienced various challenges and trends. Demand for Steel Wire Rods remained low in the construction and automotive sectors. This sustained low demand helped stabilize prices to some extent. However, market participants approached the situation cautiously, and prices showed a slight decline over the last week due to weak downstream demand and high inventory levels. Delayed resumption of construction works due to adverse weather conditions and halted operations by end-users resulted in reduced logistics and downstream demand. The absence of robust stimulus measures and the lackluster performance of China's real estate market fueled pessimism.
As the largest producer and consumer of Steel Wire Rods in the region, the market situation in China remained relatively weak. High supply and low demand, combined with a hesitant approach from market participants, led to limited profits for steel mills and price stability. The latest price of Wire Rod (Q235-8 mm) Ex Shanghai in China for the current quarter is USD 561/MT.
In conclusion, the Steel Wire Rod market in the APAC region during the first quarter of 2024 was still affected by supply chain disruptions.
Europe
The European Steel Wire Rod market in Q1 of 2024 faced various factors that influenced pricing and demand. Disruptions in trade routes led to a surge in freight charges and limited availability of Steel Wire Rods. Multiple shutdowns in trade routes caused significant disruptions, further exacerbating the situation.
Germany emerged with moderate supply and demand levels, with the construction and infrastructure sectors playing a crucial role in driving demand for Steel Wire Rods. Additionally, initiatives promoting green energy sustained demand for steel products. Although mills resumed production, high demand resulted in decreased inventory levels and caused price fluctuations. Overall, the Steel Wire Rod market in March saw prices settling at USD 711/MT in FD-Ruhr (Germany).
The market witnessed multiple shutdowns in trade routes, leading to increased freight charges. Nonetheless, Germany demonstrated market stability with balanced supply and demand levels. Demand from construction, infrastructure, and green energy sectors contributed to high demand for steel products.
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