Steel Rebounds from 1-Year Low

2026-08-12 09:24 By Andre Joaquim 1 min. read

Steel rebar futures in China rose above CNY 3,000 per tonne, rebounding from the one-year low of CNY 2,085 on August 3rd, tracking support for other ferrous metals amid a momentary dip in iron ore supply to Chinese furnaces.

More workers joined BHP's Port Hedland strike in iron ore operations.

The suspension in operations on the world's largest iron ore export hub added to threats on Sino-Australian trade amid rifts with China's state-backed commodity buying authority.

Still, sluggish demand maintained steel prices down year-to-date.

The latest data extended the trend China's property crisis, indicating that demand for rebar will remain week for major sector.

The official construction PMI fell to a record low of 47 in July, and construction starts sank by 23.4% in June annually.

Export options for mills were also limited due to protectionist policies by foreign governments against ample Chines capacity.

Steel and iron product exports from China fell 4.4% in volume in the year to July.



News Stream
Steel Rebounds from 1-Year Low
Steel rebar futures in China rose above CNY 3,000 per tonne, rebounding from the one-year low of CNY 2,085 on August 3rd, tracking support for other ferrous metals amid a momentary dip in iron ore supply to Chinese furnaces. More workers joined BHP's Port Hedland strike in iron ore operations. The suspension in operations on the world's largest iron ore export hub added to threats on Sino-Australian trade amid rifts with China's state-backed commodity buying authority. Still, sluggish demand maintained steel prices down year-to-date. The latest data extended the trend China's property crisis, indicating that demand for rebar will remain week for major sector. The official construction PMI fell to a record low of 47 in July, and construction starts sank by 23.4% in June annually. Export options for mills were also limited due to protectionist policies by foreign governments against ample Chines capacity. Steel and iron product exports from China fell 4.4% in volume in the year to July.
2026-08-12
Steel Declines to 13-Month Low
Steel rebar futures fell to around CNY 3,000 per ton in early August, reaching their lowest level since June 2025 as widening losses at Chinese steel mills and a deteriorating industry outlook continued to weigh on sentiment. Industry data showed that average losses at steel mills in Tangshan have surpassed CNY 100 per ton and are expected to keep widening, with the sector likely to remain under pressure this month. China’s prolonged property downturn also continued to curb steel demand, as construction accounts for roughly one-third of the country’s steel consumption and represents the bulk of rebar usage. Meanwhile, investors digested updates from the Politburo meeting in Beijing, where policymakers refrained from introducing major new stimulus measures and instead focused on implementing existing fiscal policies to support the slowing economy. Elsewhere, private data showed China's manufacturing activity slowed to a four-month low in July, further weighing on the demand outlook.
2026-07-30
Steel Holds Decline from 1-Month High
Steel rebar futures in China were close to CNY 3,060 per tonne, holding the pullback from one-month high of CNY 3,130 on July 16th amid low demand in China. The oversupply of housing that caused their prolonged property crisis limited investment for new construction. New home prices contracted further in June, and construction starts by floor area fell 23.4% annually in the first half of the year. Construction accounts for one-third of Chinese steel demand, making up for most of rebar purchases. Manufacturing growth was also muted as low consumer demand was combined with protectionist policies limiting the magnitude of foreign orders for goods producers, especially due to the softening momentum for auto production growth. Consequently, domestic steel output totaled 500 million tonnes in the first half of the year, around 3% below levels from 2025. Still, ample infrastructure expenditure from Beijing, including for power plants, grids, and electricity storage, supported consumption.
2026-07-24