HRC and rebar demand may shrink further

Published: Dec 19, 2023 08:50

Source: SMM

Save

In terms of construction materials, affected by cold wave in north China, downstream demand in some areas stagnated.

In terms of construction materials, affected by cold wave in north China, downstream demand in some areas stagnated. Overall demand diminished last week, and may keep weakening this week, weighed down by intensifying weather disturbances.

In terms of HRC, spot price of HRC recently increased first and then declined. End users aimed to purchase HRC on a need-to basis, and may shrink further this week amid cold wave in north China.

Market forecast

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

10 hours ago

[SMM Steel] AGSI launches new rebar mill in UAE, adds 600,000 mt capacity

[SMM Steel] Arabian Gulf Steel Industries has started a new rebar rolling mill (HRM 3) in UAE, adding 600,000 mt/year capacity and lifting total rolling capacity to 1.24 million mt. The mill is integrated with the meltshop, improving efficiency and supporting low-carbon production. In the short term, increased domestic supply is expected to enhance local availability and reduce reliance on imports, with limited exports depending on demand.

10 hours ago

[SMM Steel] Vietnam domestic demand offsets export weakness amid trade barriers

[SMM Steel] Vietnam steel consumption showed strong domestic growth in early 2026, with construction steel up 39% YoY and HRC surging 214% YoY, driven mainly by local demand . Meanwhile, exports declined, especially for coated steel (-45% YoY), due to increasing trade barriers in markets like the EU. In the short term, strong domestic demand is offsetting export weakness, supporting sales and prices, while coated steel segments remain under pressure.

10 hours ago

[SMM Steel] Marcegaglia to invest €1 billion in new French steel plant

[SMM Steel] Marcegaglia, in partnership with Danieli, plans to invest €1 billion in a new EAF-based steel plant in Fos-sur-Mer, France. The facility is designed to produce >2 million mt of steel and up to 3 million mt of HRC annually. In the short term, the project signals future supply expansion and a shift toward low-carbon steel, though no immediate market impact is expected before final approval.

10 hours ago