According to data from SteelRadar, 012- 32 mm rebar prices, which had been on the decline since May 12, started to rise again on May 16.
Prices resumed a moderate upward trend in the week of May 16-24 in the range of USD 611-619. On May 24, they were recorded at USD 619. This implies a decrease of 1.9% compared to the same period last year.
Factors such as import-export imbalance in India, low demand from Europe, and competition from Chinese products have been affecting the steel sector recently. In addition, there is a general slowdown in infrastructure projects and the construction sector due to the elections that will last until June. But globally, India stands out.
Although there is a general stagnation in the current market, moderate price increases are expected to accelerate after the elections.
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