NewsFlash / Steel / Steel Industry Shock: Rebar Margins Rebound While Hot Rolled Coil Losses Hit Record Highs; Mills Eye September Production Switch?
Steel Industry Shock: Rebar Margins Rebound While Hot Rolled Coil Losses Hit Record Highs; Mills Eye September Production Switch?
iconAug 23, 2024 14:50
Source:SMM
[SMM Hot Topic: Reversal of Rebar and Hot Rolled Coil Profit Margins! Rumor Has It That Steel Mills Will Switch Production Lines in September?] Since the end of the second quarter, steel prices have fallen sharply, leading to a rapid narrowing of steel mill profits during this period. Subsequently, the intensification of the fundamental contradiction between high supply and high inventory has shifted market attention gradually to hot rolled coils. As steel prices continued to decline, the decline in hot rolled coil prices was significantly more pronounced than that of rebar. Ultimately, the profit margins of rebar gradually recovered, while those of hot rolled coils continued to deteriorate. As of August 19, although rebar incurred a loss of 142.51 yuan/ton, the loss for hot rolled coils has reached as high as 186.92 yuan/ton, marking a new low for hot rolled coil profit margins this year...

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