 |
| Rebar |
Major steel manufacturing hubs reported higher rebar offers entering September due to escalating raw material costs. Global rebar prices shifted from early August lows toward a synchronized cost-driven recovery. In Turkey, producers raised export quotes to $615 per tonne FOB by September 11. Meanwhile, rising imported scrap costs supported higher margins for Turkish electric arc furnace operators.
European Mill Cost Pressures and American Market Supply Limits
European steelmakers are pushing for price hikes of €20 to €40 per tonne to offset elevated operating costs. For instance, ArcelorMittal raised its long product prices by €25 per tonne in early September. In contrast, competitive import arrivals and lower vehicle scrap prices capped American domestic price gains. However, strong demand from energy and data center construction offset weak residential activity in the United States.
Chinese Raw Material Cost Inflation and Autumn Outlook
Chinese mills face narrowing profit margins as consecutive coke price increases elevate blast furnace production expenses. Consequently, Chinese rebar offers rebounded by 5.4% to $463.75 per tonne FOT warehouse by September 11. Traders anticipate a seasonal demand surge during the traditional September and October construction peak. Therefore, sustained global rebar prices will depend heavily on real end-user demand recovery.
ScrapInsight Commentary
Global rebar markets reflect a cost-push dynamic driven by scrap and coke price inflation rather than booming end-use construction.
Electric arc furnace steelmakers in Turkey and Europe will maintain tight margin discipline through strategic mill output curbs.
ScrapInsight expects scrap metal valuations to remain supported near-term as global mills defend higher finished long product pricing.
