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Recently, Kyoei Steel in Japan SG245W2 Grade C steel announced that it will maintain the benchmark price for rebar sales at all business locations unchanged in December. This decision marks the sixth consecutive month that the company has adopted the same pricing strategy.
According to the official statement of the company, since August this year, contracts and shipments in the domestic market have been sluggish due to the impact of high temperatures. However, with the end of the hot summer season, market demand gradually rebounded, and contracts and shipments gradually recovered.
However, the Communist Party of SG245W2 Grade C steel China pointed out that the complete recovery of steel demand still requires some time, mainly due to the dual effects of rising material prices and labor shortages. Especially in the fields of construction and infrastructure, construction delays are still quite severe, which has also had an impact on overall steel demand.
Regarding future production plans, Gongrong Steel Company stated that in order to better adapt to market demand fluctuations, the company will close some furnaces during the year-end and New Year holidays and take further production reduction measures. This measure aims to ensure that production volume matches market demand, thereby maintaining production efficiency and reducing the risk of inventory SG245W2 Grade C steel backlog.
