For the Quarter Ending December 2024
North America
The North American Steel Rebar market faced significant headwinds during Q4 2024, with prices ending at USD 806/MT Ex Illinois in the USA—marking a 3% decline from the previous quarter. This sustained downward trend highlights ongoing challenges in regional market dynamics, with the USA, as a key regional indicator, experiencing the sharpest price movements.
The persistent decline in steel rebar prices was driven by weak demand fundamentals alongside persistent oversupply conditions. Reduced consumption patterns across construction and infrastructure sectors exacerbated the negative pricing environment, while abundant material availability further weighed on market sentiment. Prices consistently deteriorated throughout both halves of the quarter, signalling deep-rooted structural issues in the balance of supply and demand.
Market participants across North America found themselves grappling with these pressures, as the combination of sluggish demand and excess inventory created significant barriers to price stabilization. The consistent quarter-long downtrend reflects broader industry challenges, with little relief in sight unless a major correction occurs in either supply-side dynamics or a revival in regional demand.
Europe
In Q4 2024, the Europe region witnessed a decline in Steel Rebar prices, driven by a combination of factors. Global disruptions, contributed to supply challenges, while weakening demand in the construction sector, exacerbated by regulatory uncertainties and high interest rates, further dampened market conditions. Furthermore, the market also faced pressure from oversupply, with production cuts by steelmakers failing to offset the downward price trend. Additionally, Germany, in particular, experienced significant price fluctuations, reflecting the broader European trend. Moreover, Within Q4 2024, prices remained stable initially but decreased by 3% in the second half of the quarter, highlighting the downward trajectory. The market sentiment remains bearish, with expectations of continued low demand. Furthermore, the demand for Steel Rebar in Germany has declined due to economic challenges and changing consumer behaviour during the summer holiday period. The quarter ended with Steel Rebar prices at USD 806/MT FD-Ruhr, Germany, underscoring the prevailing negative sentiment and indicating a generally bearish pricing environment.
APAC
The APAC Steel Rebar market experienced downward price movements throughout Q4 2024, driven by a confluence of persistent oversupply, lower demand, and rising input costs. This challenging environment exerted continuous pressure on pricing, creating a bearish market sentiment for the region. Additionally, China, as the region's largest producer and consumer of steel products, played a significant role in shaping the overall market trends. Steel Rebar prices in China saw a decline of 0.8% quarter-on-quarter, reflecting the broader challenges troubling the APAC market. Weakened demand, fuelled by global economic uncertainties and a slowdown in construction activity, coupled with increased supply levels, influenced the pricing environment throughout the quarter. The market closed the quarter with the price of Steel Rebar (HRB400 - 8 mm) Ex Shanghai recorded at USD 478/MT, underscoring the persistent downward pressure. Market players across the region struggled to navigate the pricing dynamics amid a complex mix of oversupply and subdued consumption patterns, further weighed down by economic constraints rippling from the global landscape.
For the Quarter Ending September 2024
North America
The third quarter of 2024 for Steel Rebar in North America has been marked by a notable decrease in prices, with significant factors influencing market trends. Additionally, weak demand, coupled with excess supply, has created a challenging environment for steel rebar pricing.
In the USA specifically, the market has experienced the most significant price changes. Furthermore, the overall trend in the region has been negative, with prices declining compared to the same quarter last year. Additionally, the quarter-on-quarter change in 2024 also showed a decreased trend, indicating sustained downward pressure on prices. Moreover, the comparison between the first and second half of the quarter revealed a further 1% decline, highlighting a consistent negative trend in pricing.
The latest quarter-end price stands at USD 871/MT of Steel Rebar (8 mm) Ex Illinois in the USA, reflecting the prevailing bearish sentiment in the market. Overall, the pricing environment for Steel Rebar in the North America region has been challenging, with prices consistently on a downward trajectory.
APAC
Throughout Q3 2024, the Steel Rebar market in the APAC region has experienced a period of decreasing prices, influenced by a combination of factors. Additionally, the market has been notably affected by persistent oversupply, sluggish demand, and rising input costs. Moreover, these challenges have created a downward pressure on prices, leading to a negative trend in the pricing environment.
In China, which has seen the most significant price changes, the Steel Rebar market has reflected overall trends in the region. Additionally, the comparison between the first and second half of the quarter revealed a decline of 3%. Furthermore, market dynamics have been influenced by a combination of increased supply, weakened demand, and global economic uncertainties impacted the prices of Steel Rebar.
The latest price recorded at USD 465/MT for Steel Rebar (HRB400 - 8 mm) Ex Shanghai in China signifies the prevailing decreasing sentiment in the market, highlighting the challenges faced by industry players in navigating pricing dynamics amidst a complex operating environment.
Europe
In Q3 2024, the Europe region witnessed a decline in Steel Rebar prices, driven by a combination of factors. Global disruptions, such as conflicts in Ukraine and the Middle East, contributed to supply challenges, while weakening demand in the construction sector, exacerbated by regulatory uncertainties and high interest rates, further dampened market conditions. Furthermore, the market also faced pressure from oversupply, with production cuts by steelmakers failing to offset the downward price trend.
Germany, in particular, experienced significant price fluctuations, reflecting the broader European trend. Additionally, Within Q3 2024, prices remained stable initially but decreased by 2% in the second half of the quarter, highlighting the downward trajectory. Moreover, the market sentiment remains bearish, with expectations of continued low demand. Furthermore, the demand for Steel Rebar in Germany has declined due to economic challenges and changing consumer behaviour during the summer holiday period.
The quarter ended with Steel Rebar prices at USD 818/MT FD-Ruhr, Germany, underscoring the prevailing negative sentiment and indicating a generally bearish pricing environment.
For the Quarter Ending June 2024
North America
The Steel Rebar market in North America during Q2 2024 experienced a consistent downtrend, driven by several significant factors. A notable supply-demand imbalance resulted in ample inventories against subdued demand, primarily from the construction sector. In particular, the persistent high interest rates and economic uncertainties curtailed construction activities, thereby diminishing the demand for steel rebar. The influx of low-cost imports further exacerbated the situation by intensifying competition and pushing domestic prices downward. Maintenance outages at mills provided only momentary price support, failing to counter the overall bearish market sentiment.
Focusing on the USA, the decline in steel rebar prices was particularly pronounced. The overall trend indicated a steady weakening of prices due to low market participation among major players and a cautious approach by buyers. The seasonality factor showed minimal impact as the usual upswing in spring construction activities did not materialize significantly. Instead, the correlation between reduced demand and ample supplies continued to drive prices down. Moreover, a 2% decrease when comparing the first and second halves of Q2.
Conclusively, the quarter-ending price settled at USD 844/MT of Steel Rebar (8 mm) CFR Illinois. This consistent downward trend underscores a negative pricing environment, reflecting diminished demand, increased domestic supply, and heightened import competition. The overall ambiance for steel rebar pricing in Q2 2024 was notably pessimistic, significantly influenced by macroeconomic factors and sectoral challenges.
Europe
The second quarter of 2024 has presented a complex landscape for steel rebar pricing in Europe, characterized by significant fluctuations and underlying market dynamics. The primary factors influencing market prices this quarter have included persistent supply chain disruptions, increased energy and raw material costs, and heightened demand from the construction and automotive sectors. Supply constraints, exacerbated by geopolitical tensions and trade regulations, have further tightened the market. The European Commission's import limits and increased shipping costs have also played pivotal roles in shaping the pricing environment.
Focusing on Germany, the country has experienced the most notable price changes. The overall trend indicates a modest recovery, supported by improved manufacturing activities and rising demand from downstream industries. Seasonality has also impacted prices, with construction projects typically ramping up during the warmer months, driving demand and exerting upward pressure on prices. Moreover, the comparison between the first and second half of the quarter shows a marginal increase of 1%, suggesting a gradual stabilization in market conditions.
The latest quarter-ending price stands at USD 834/MT for Steel Rebar (8 mm) FD-Ruhr in Germany. While the pricing environment has been cautiously positive, driven by stronger demand and constrained supply, the market remains sensitive to external factors. Overall, the quarter has been marked by an interplay of challenges and opportunities, with the German market showing resilience amidst broader European trends.
APAC
In Q2 2024, the steel rebar market in the APAC region exhibited a stable pricing environment, driven by several key factors balancing supply and demand dynamics. The quarter's stability can be attributed to a combination of moderate supply chain disruptions, variations in raw material costs, and the influence of seasonal demand patterns across the construction and infrastructure sectors. The market sentiment remained largely steady, reflecting a cautious approach among producers and buyers alike.
China, representing the most significant price fluctuations within the region, saw steel rebar prices in China were characterized by moderate production levels, cautious inventory management, and a steady demand from downstream industries, despite the broader economic challenges.
Seasonality played a crucial role, with the second half of the quarter maintaining price parity with the first half, reflecting a stable change. This stability underscores a balanced market where supply adequately met demand without significant disruptions. Moreover, the cautious approach of manufacturers, coupled with subdued economic conditions, helped maintain an equilibrium in price dynamics.
The quarter concluded with steel rebar prices at USD 485/MT Ex Shanghai, reflecting a consistent stable market sentiment. Despite minor fluctuations, the overall environment for steel rebar pricing in Q2 2024 has been neutral, neither overly positive nor negative, allowing the market to navigate through economic uncertainties with a balanced outlook.
For the Quarter Ending March 2024
North America
In Q1 2024, the North American region experienced a stable pricing environment for Steel Rebar. Several factors influenced market prices during this period. Firstly, the overall demand for Steel Rebar remained steady, with no significant fluctuations in consumption. This stability can be attributed to the consistent performance of downstream industries, such as construction and infrastructure development, which continued to drive the demand for Steel Rebar. Additionally, the availability of raw materials, such as iron ore and steel scrap, remained sufficient, ensuring a balanced supply in the market.
Turning our focus to the United States, the pricing trend remained stable throughout the quarter. Seasonal factors, such as winter weather conditions, had a minimal impact on market dynamics. The correlation between price changes and other market variables, such as demand and production capacity, remained moderate.
In conclusion, the stable pricing environment for Steel Rebar in Q1 2024, both in the North American region and specifically in the United States, indicates a positive market sentiment. The consistent demand and supply balance, along with a moderate correlation between price changes and market variables, contributed to the overall stability in Steel Rebar prices. The quarter-ending price for Steel Rebar (8 mm) CFR Illinois in the USA stood at USD 870/MT.
APAC
The first quarter of 2024 has been challenging for the Steel Rebar market in the APAC region, with prices facing a significant decline. Several factors have influenced market prices, including oversupply, reduced demand from downstream industries, and disruptions in global trade routes. These factors have created a negative pricing environment, leading to a decrease in Steel Rebar prices. Steel rebar consumers have reduced their buying activities, anticipating a decline in prices due to uncertain demand. Market participants are carefully evaluating prospects. Export prices for Chinese steel rebar fell due to reduced raw material expenses, alleviating production pressures on local steel mills. This has resulted in a general downward trend in both raw material and finished steel product prices, driven by excess production compared to demand growth. The slow rebound in domestic demand for steel rebar, possibly influenced by a sluggish real estate sector, contributed to this pattern. Despite heightened steel production due to lower costs, international trading remains subdued as buyers are reluctant to make bids or offer excessively low prices. Compared to the same quarter last year, prices have declined by 23%, indicating the long-term negative sentiment in the market. The quarter-ending price for Steel Rebar (HRB400 - 8 mm) Ex Shanghai in China stands at USD 481/MT, reflecting the current decreasing pricing environment.
Europe
The first quarter of 2024 has been characterized by decreasing prices in the European Steel Rebar market. Several factors have influenced market prices, including subdued demand, reduced inventory levels, and disruptions in trade routes. These factors have created a bearish sentiment in the market, leading to lower prices. The latest quarter-ending price for Steel Rebar in Germany is USD 820/MT FD-Ruhr. This reflects the overall decreasing trend in prices throughout the quarter. The prevailing sentiment across European steel rebar markets remained pessimistic concerning both short and long-term demand and pricing trajectories, with demand staying at a low level. This persistently negative outlook and subdued demand led to limited trading volumes, while producers, facing ongoing profit losses throughout the year, have become reluctant to offer discounts. The market conditions in Germany have been influenced by factors such as subdued demand, limited purchases from buyers, and cautious approach from steel mills. Sectors like automotive and construction have shown slow booking rates, further impacting the demand for Steel Rebar.
