17/11/2025
Last week, the steel market was in a holding pattern, stuck between underwhelming demand and a supply side that's just tight enough to prevent a crash. With profits squeezed, mills initiated production cuts, leading to a slight output dip. Meanwhile, downstream, buyers held back, purchasing only for immediate needs due to capital constraints and cooler weather. This led to muted transactions. While inventories are falling, the slow pace raises questions.
The cost story was a split screen: coking coal's price hike provided a solid floor, while ample supply kept iron ore prices soft and directionless. The result? Rebar prices are loitering at low levels, trapped in a cycle with no clear exit.
For the week ahead, expect more range-bound movement. However, the chatter about more production cuts is growing. If this happens, we could see a gradual market improvement. This current pause is a strategic window. Prices are attractive, and the downside seems limited. It's the perfect time to lock in costs with PANDAPIPE for your projects before the market shifts.