The balance between supply and demand in the global long steel industry is becoming more and more unstable, according to Murat CebecioÄźlu, chairman of IREPAS (the International Rebar Exporters and Producers Association). Speaking at the SteelOrbis Fall 2024 Conference & 91st IREPAS Meeting in Paris, CebecioÄźlu noted that Chinese finished steel products are dominating most markets in both the long and flat segments, warning that if China continues on this path, the global steel industry will suffer great damage.
CebecioÄźlu emphasized that demand remains weak, with the weakness in China building up in the market and affecting expectations worldwide. As the long steel product segment lacks balance between supply and demand, everyone is fighting for every order. The IREPAS chairman stated that the markets are in a bearish mood and are holding back.
The level of competition is very strong, especially due to Chinese offers, and significant challenges have been seen in recent times. CebecioÄźlu described the market as quite unstable, fluctuating with a not so promising outlook. However, he underlined that IREPAS is a very successful platform in difficult times, helping the industry overcome its difficulties.
The conference, which took place from September 15-17, attracted approximately 500 participants, including 140 representatives from 47 steel producers coming from 16 countries and 100 delegates from 57 raw material suppliers.
