Rebar Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Rebar in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Rebar Price Trend for the Second Half of 2023

In the third and fourth quarters of 2023, global rebar prices experienced fluctuations across various markets, particularly in Turkey, China, and the US. In Turkey, prices surged due to increased production costs and limited export opportunities from North African countries. However, demand began to go southwards towards the end of November, although the market received a boost from renewed purchases by Israel and Yemen, this was still insufficient in keeping the market trend of rebar upwards.

Rebar Price Chart

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In the US, prices remained stable through most of H2 of 2023 but declined in the last month amid reduced construction activity and stagnant procurement rates of other downstream industries. Meanwhile, in China, rebar prices stabilized amid limited demand, with producers cautious about raising prices to avoid losing sales volume.

The manufacturers anticipated subdued demand to persist through the winter months, with some traders postponing purchases until after the Spring Festival. Additionally, Ukraine's exports saw a significant decline in revenues and volumes from July to December '23, projecting a negative influence on the rebar price trend.

Analyst Insight

According to Procurement Resource, the price of Rebar is estimated to struggle with continuous fluctuations in trading activities and demand dynamics from the downstream industries.

Rebar Price Trend for the First Half of 2023

Rebar prices experienced mixed market trend during the said period of H1’23. The consumer demands from the construction sector, along with the feedstock steel costs, drove the Rebar market sentiments. In Asia, especially the Chinese market, the construction industry struggled severely because of the stretched lockdowns put in place to contain Covid 19 pandemic. And when the lockdowns were abolished, the Rebar demands didn’t pick up immediately.

So, with a slow improvement in the construction business, a rise in Rebar market trend was observed in Q1’23 as the prices rose by around 2% within the first three months. However, with improved global supply chains, a slump in prices was observed in the second quarter since Q2 closed at an average spot price of about 514 USD/MT in June’23. Overall, mixed market sentiments were observed.

Analyst Insight

According to Procurement Resource, after tribulations in the Rebar market trend, the prices are anticipated to seek stability in the coming months.

Procurement Resource provides latest prices of Rebar. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.