The China Iron and Steel Association (CISA) recently held a seminar on the rebar and wire rod market, where Vice President Luo Tiejun highlighted the sluggish demand this year, which has only slightly improved during the traditional peak season. Despite this, Luo suggested that prices may start to rebound due to the implementation of national policies. He urged market participants to closely monitor market changes and advised steel producers to adjust their production based on downstream demand. A significant increase in production activities is not recommended. This comes as the steel industry in China faces challenges such as an imbalance between supply and demand, high raw material costs, and uncertainty in the global economy. However, there are expectations that steel demand in China will be supported by traditional and new infrastructure sectors in the fourth quarter of 2023 and in 2024, thanks to economic stimulus measures.