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US Steel Wire Rod Price had significantly impacted weak downstream demand, cautious service center purchasing, and persistently high inventory supply. Towards the quarter's end, the price of Steel wire rod was USD 1548 per MT, Ex-Texas (USA).
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Steel Wire Rod Price Trend and Forecast During the third quarter of 2022, the US Steel Rebar prices fell due to the limited buying sentiments. Market participants believe supply chain disruptions caused by price increases in July weighed on buyer spending. Buyers claim that June's most recent drops in ferrous pricing fuelled speculation that the market reached the bottom. Unfortunately for ferrous scrap sellers, later bids from overseas buyers and sluggish domestic buying in the early quarter governed the price dynamics of Steel wire rods. Furthermore, US Steel Wire Rod price had significantly impacted weak downstream demand, cautious service center purchasing, and persistently high inventory supply. Towards the quarter's end, the price of Steel wire rod was USD 1548 per MT, Ex-Texas (USA). https://www.chemanalyst.com/Pricing-data/steel-wire-rod-1378
Steel wire rod pricing in the European market fell precipitously in the third quarter of 2022 Steel wire rod pricing in the European market fell precipitously in the third quarter of 2022 due to low demand and higher energy costs. According to market participants, summer vacations and routine plant maintenance also contribute to low steelmakers' demand. Steel Wire Rod prices rose in the quarter as mills reduced capacity due to high production costs. Furthermore, high energy prices forced some mills to extend their August maintenance shutdowns into September. Buyers refused to pay inflated prices. As a result, the Steel Wire Rod market remains quiet this quarter, with demand subdued and buyers on the sidelines. Towards the quarter end, the price of Steel wire rod was USD 856 per MT, Ex-Ruhr (Germany). https://www.chemanalyst.com/Pricing-data/steel-wire-rod-1378
Steel Wire Rod prices in the Chinese market fell during the third quarter of 2022 Steel Wire Rod prices in the Chinese market fell during the third quarter of 2022 due to a sluggish demand outlook. According to market participants, China's steel demand significantly underperformed due to ongoing contractions in the country's real estate sector, while the firm stated that an energy crisis had increased the risk of a European recession. Furthermore, the US Federal Reserve continued to raise its policy rate, strengthening the US dollar while increasing import costs for emerging markets. Domestic rebar prices in China increased towards the quarter, starting after the government announced additional infrastructure development and easing pandemic-related restrictions. The construction sector in North China, East China, and Southwest China was reduced primarily due to stable and falling business market prices and cold terminal demand. Towards the quarter end, the price of Steel wire rod was USD 626 per MT, Ex-Shanghai (China). https://www.chemanalyst.com/Pricing-data/steel-wire-rod-1378
During the third quarter of 2022 the US Steel Rebar prices fell due to the limited buying sentiments Steel Wire Rod prices in the Chinese market fell during the third quarter of 2022 due to a sluggish demand outlook. According to market participants, China's steel demand significantly underperformed due to ongoing contractions in the country's real estate sector Steel wire rod prices in the European market fell precipitously in the third quarter of 2022 due to low demand and higher energy costs. According to market participants, summer vacations and routine plant maintenance also contribute to low steelmakers' demand
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