For the Quarter Ending March 2025
North America
The North American Steel rebar market experienced a significant upward trend in Q1 2025, driven by a combination of global and regional factors influencing both supply and demand dynamics. During Q1 2025, with prices settling at USD 929/MT Ex Illinois in the USA. The quarter revealed a 5% incline between Q1 2025 and Q4 last year, underscoring the bullish sentiment in the market.
Supply constraints were a major factor, stemming from global disruptions such as import restrictions, port congestions, and broader inefficiencies in supply chain operations. These constraints limited the availability of product in the region, creating upward pressure on prices. At the same time, the demand for product in North America increased, particularly from industries tied to production, solidifying the market's positive momentum. The USA demonstrated the most significant price changes, with an increase recorded indicating a steady upward trend. Despite disruptions in the supply chain, the pricing environment remained optimistic throughout the quarter, bolstered by rising domestic demand and constrained imports.
Europe
In Q1 2025, the European Steel Rebar market experienced a significant upward trend in pricing, driven by a combination of supply constraints and rising operational costs. The quarter ended with Steel Rebar in Germany priced at USD 873/MT FD-Ruhr, reflecting a 4.3% increase from the Q1 compared to previous quarter, underscoring sustained price growth and a bullish market sentiment. Key drivers of this price escalation included major supply challenges such as operational disruptions, longer shipping routes, equipment shortages, and port congestion, which collectively limited the availability in the region. These supply-side issues were further aggravated by rising freight costs, amplifying pressures on pricing. Additionally, the implementation of environmental regulations like the EU Emissions Trading System imposed additional operational costs on producers, further contributing to the upward trajectory in prices. Additionally, the German market, a key indicator for the region, recorded the most significant price changes, maintaining consistent increases throughout the quarter, despite plant-level disruptions. The positive pricing environment highlights the interplay of constrained supply dynamics, environmental compliance costs, and global market pressures.
APAC
The APAC Steel Rebar market experienced downward price movements throughout Q1 2025, 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 2.3% 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 458/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 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.
