The global rebar market showed signs of volatility in May, with most regions struggling due to weak demand, seasonal slowdowns in construction, and price pressures. China and Turkey experienced slight price increases, but the overall market remained subdued, as GMK Center reported.
In Turkey, rebar prices rose by 2.4% to $550.6 per ton FOB, driven by costly raw materials and temporary plant shutdowns. However, domestic demand remained weak, and exports slowed as European buyers refrained from new purchases. Meanwhile, demand in Arab countries, including Yemen and Palestine, declined due to political instability, while shipments to Syria and Northern Cyprus remained stable.
In the EU, rebar prices dropped significantly, with Italy seeing an 8% decline to €550.6 per ton ex-works. Intense competition and weak construction activity contributed to the downward trend. Northern Europe experienced a smaller price drop, while France remained stable amid pressure from cheaper imports.
The U.S. market saw a 1.9% price decline to $765 per ton due to weak construction activity, declining scrap prices, and excess inventory. In China, rebar prices increased marginally but remained 5.3% lower year-on-year. Looking ahead, seasonal weaknesses and macroeconomic uncertainties may further impact global rebar markets.
