The global long steel products market remained under pressure in recent weeks, with weak demand, excess supply and intense competition continuing to weigh on prices and margins, according to the latest short-range market outlook released by the International Rebar Producers and Exporters Association (Irepas).
Irepas said the international rebar market has weakened further over the past month as subdued buying activity and oversupply continued to pressure prices. However, the association noted that some steelmakers have started reducing production, which could gradually improve the supply-demand balance. The easing of geopolitical tensions in the Middle East was also seen as a positive development that could support a recovery in regional steel demand if stability continues.
The association said low buyer confidence remains the main obstacle to demand recovery, while additional billet exports from Iran and Russia could place further downward pressure on global rebar prices. Producers are also facing higher electricity costs during the summer season, adding to margin pressure.
In Europe, weak economic growth, high energy costs and sluggish steel demand continue to weigh on the market, with domestic steel prices softening despite tighter import quotas. In Asia, although Chinese steel production has gradually declined, exports continue to increase, maintaining pressure on international markets.
Irepas added that global competition remains extremely intense as tariffs, quotas and other trade measures continue to reshape trade flows, leaving relatively few unrestricted export markets. As a result, the association described the current market environment as unstable, with the short-term outlook remaining highly uncertain.