For the Quarter Ending March 2025
North America
The North American Steel Wire Rod market endured a difficult Q1 2025, with prices following a persistent downward trajectory. The quarter concluded with Wire Rod (A36-8 mm) Ex Texas in the USA priced at USD 1,183/MT, marking a 5.3% decline between the first quarter and fourth quarter emphasizing ongoing negative market sentiment.
Oversupply was a critical issue, exacerbated by increased steel imports that compounded already high domestic inventory levels. This surplus created a highly competitive pricing environment, forcing prices downward. At the same time, demand recovery across end-use sectors such as construction and manufacturing remained weak, with limited catalysts to stimulate growth. This lack of demand further intensified the bearish market conditions. As the primary price indicator for the region, the USA experienced the most pronounced price movements during the quarter.
Prices recorded substantial declines, both compared to the previous quarter and the same period in year on year, highlighting persistent structural issues in supply-demand dynamics. The ongoing imbalance suggests the need for strategic adjustments to address oversupply and stimulate demand recovery.
Europe
In Q1 2025, the European Steel Wire Rod 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 709/MT FD-Ruhr, reflecting a 0.8% 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
Throughout the quarter first 2025, the Steel Wire Rod 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. Furthermore, 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 comparison between the quarter first and the quarter fourth 2024 revealed a decline of 5.2%. Additionally, Export volumes decreased, and the broader manufacturing sector faced reduced demand. Moreover, the overall market faced a decline in demand due to the traditional off-season, with a decrease in steel demand. Meanwhile, the latest price recorded at USD 493/MT for Wire Rod (Q235-8 mm) Ex Shanghai (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.
For the Quarter Ending December 2024
North America
The North American Steel Wire Rod market endured a difficult Q4 2024, with prices following a persistent downward trajectory. The quarter concluded with Wire Rod (A36-8 mm) Ex Texas in the USA priced at USD 1,164/MT, marking a 1% decline between the fourth quarter and third quarter and emphasizing ongoing negative market sentiment. Oversupply was a critical issue, exacerbated by increased steel imports that compounded already high domestic inventory levels. This surplus created a highly competitive pricing environment, forcing prices downward.
At the same time, demand recovery across end-use sectors such as construction and manufacturing remained weak, with limited catalysts to stimulate growth. This lack of demand further intensified the bearish market conditions.
As the primary price indicator for the region, the USA experienced the most pronounced price movements during the quarter. Prices recorded substantial declines, both compared to the previous quarter and the same period in year on year, highlighting persistent structural issues in supply-demand dynamics. The ongoing imbalance suggests the need for strategic adjustments to address oversupply and stimulate demand recovery.
Europe
In fourth quarter 2024, the European Steel Wire Rod market encountered a sustained decline in prices, driven by a mix of global and regional challenges. The quarter ended with prices at USD 678/MT FD-Ruhr Germany, reflecting persistent bearish market sentiment amid weak demand and excess supply pressures. Global disruptions of low-priced steel disrupted supply chain, while demand from key end-use sectors, particularly construction, remained muted. Additionally, high interest rates and regulatory uncertainties further strained the construction sector, a key driver of steel demand, exacerbating the overall decline in consumption. These demand-side pressures were compounded by oversupply. Additionally, Germany, acting as a bellwether for the region, experienced significant price fluctuations in line with broader European market dynamics. Prices in the second half of the quarter fell by an additional 1%, perpetuating the decline observed earlier in the period. When compared to the same quarter year on year, prices registered a sharper decline, pointing to the sustained structural challenges in the market.
APAC
Throughout the quarter fourth 2024, the Steel Wire Rod market in the APAC region has experienced a period of decreasing prices, influenced by a combination of factors. The market has been notably impacted by persistent oversupply, sluggish demand, and rising input costs. Furthermore, 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 comparison between the first and second half of the quarter revealed a slight decline of 2%. Additionally, Export volumes decreased, and the broader manufacturing sector faced reduced demand. Moreover, the overall market faced a decline in demand due to the traditional off-season, with a decrease in steel demand.
The latest price recorded at USD 510/MT for Wire Rod (Q235-8 mm) Ex Shanghai (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.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American Steel Wire Rod market witnessed a downward trend in prices, reflecting a challenging environment characterized by a multitude of factors. The significant influence on market prices stemmed from a combination of weakened demand and increased supply dynamics. The market was predominantly impacted by a surplus of steel imports, leading to an oversupply situation alongside existing high domestic inventory. This influx of imported steel, coupled with lacklustre demand catalysts and weak market sentiment, contributed to the persistent downward pressure on prices throughout the quarter.
Within the USA, the market experienced the most pronounced price changes, with a consistent decline observed. The quarter saw a substantial price decrease compared to the same period last year, further accentuated a decrease from the previous quarter in 2024. The price comparison between the first and second half of the quarter revealed a notable 3% decrease.
Ultimately, the quarter-ending price for Wire Rod (A36-8 mm) Ex Texas in the USA settled at USD 1139/MT, reflecting the prevailing negative sentiment and challenging pricing environment.
APAC
Throughout Q3 2024, the Steel Wire Rod market in the APAC region has experienced a period of decreasing prices, influenced by a combination of factors. The market has been notably impacted by persistent oversupply, sluggish demand, and rising input costs. Furthermore, 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 comparison between the first and second half of the quarter revealed a slight decline of 2%. Additionally, Export volumes decreased, and the broader manufacturing sector faced reduced demand. Moreover, the overall market faced a decline in demand due to the traditional off-season, with a decrease in steel demand.
The latest price recorded at USD 1313/MT for Stainless Steel-201 CR Coil (1 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 Wire Rod 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, the quarter observed a decrease from the same period last year, indicating a challenging market environment. Within Q3 2024, prices remained stable initially but decreased by 1.5% in the second half of the quarter, highlighting the downward trajectory. Moreover, the market sentiment remains bearish, with expectations of continued low demand.
The quarter ended with Steel Wire Rod prices at USD 670/MT FD-Ruhr, Germany, underscoring the prevailing negative sentiment and indicating a generally bearish pricing environment.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American steel wire rod market experienced a downward price trajectory, shaped significantly by an oversupply situation and reduced demand across various sectors. Factors exacerbating this decline included high inventory levels, low purchasing activity, and economic uncertainty, fostering a bearish market sentiment. Elevated capacity utilization rates, not proportionate to the sluggish global demand, further strained the supply-demand equilibrium. Additionally, freight cost increases and subdued construction activities contributed to the price downturn, reflecting the broader economic challenges within the region.
Focusing on the USA, the most pronounced price volatility was observed, driven by a combination of domestic and international market pressures. The construction sector's underperformance, coupled with high financing costs, led to reduced residential building activities, dampening the demand for steel wire rods. Seasonality also played a role, with the first half of the quarter witnessing a sharper decline of -4% compared to the latter half, indicating persistent market weaknesses.
The quarter-ending price of USD 1225/MT for Wire Rod (A36-8 mm) CFR Texas underscores the prevailing negative market sentiment. The consistent decrease in prices throughout the quarter reflects a challenging economic landscape, marked by hesitant consumer behaviour and a cautious approach to new purchases. Overall, the pricing environment in Q2 2024 for steel wire rods in North America, particularly in the USA, has been decidedly negative, driven by a multitude of converging factors that continue to pressure market stability and profitability.
Europe
In Q2 2024, the European Steel Wire Rod market experienced notable price fluctuations, influenced by various pivotal factors that have shaped the regional trading dynamics. The quarter has seen a robust influence from heightened energy costs, constrained raw material availability, and geopolitical tensions affecting shipping and logistics. These elements have collectively exerted upward pressure on Steel Wire Rod prices, despite the broader global stability in scrap prices. Additionally, significant investments in sustainable steel production technologies have also contributed to the cautious optimism within the market, further affecting pricing structures.
Focusing exclusively on Germany, which has witnessed the most substantial price changes, the overall trend in this quarter was characterized by moderate demand dynamics and cautious trading activity. The seasonality typically observed in the steel market was evident, with the first half of the quarter reflecting a marginal increase in prices. This was primarily due to restocking activities post-Easter and the anticipation of stable demand from the construction and automotive sectors. However, the increase in economic activity in these sectors tempered the expected price surge, resulting in a modest 1% price differential between the first and second halves of the quarter.
Concluding the quarter, the price of Wire Rod (5.5 mm) settled at USD 685/MT CFR Bremen, underscoring an increase in pricing environment driven by moderate supply-demand equilibrium and cautious market sentiment. Overall, the pricing environment in Germany has been slightly positive, guided by strategic market adjustments and underlying economic activities.
APAC
In the second quarter of 2024, the pricing environment for Steel Wire Rod in the APAC region has remained predominantly stable. Key factors influencing the market prices include supply-demand equilibrium, global economic conditions, and industrial activities. The stable prices have been primarily supported by a balanced production rate and moderate demand from the infrastructure and automotive sectors. Despite some fluctuations in raw material costs, such as coal and iron ore, manufacturers have effectively managed operational efficiencies to maintain steady price levels.
Focusing on China, which has witnessed the most significant price changes within the region, the overall trend has been marked by a delicate balance between supply and demand. Seasonal factors, such as the intermission of construction activities during monsoon periods, have played a role in stabilizing demand. The correlation between reduced construction activities and lower market volatility has ensured that price fluctuations are minimal. Moreover, this consistency is further evidenced by no change from the previous quarter, underscoring the market’s resilience and stable sentiment.
The price comparison between the first and second halves of the quarter remains unchanged, indicating a uniform pricing landscape throughout the period. This stability suggests a stable pricing environment, where neither significant surges nor drops have disrupted market equilibrium. The quarter-ending price for Wire Rod (Q235-8 mm) Ex Shanghai in China stands at USD 561/MT, highlighting a stable and predictable market scenario. Overall, the stable pricing context in the APAC region for Q2 2024 reflects a balanced and controlled market, conducive to sustained economic activities and industrial growth.
