The China Iron and Steel Association (CISA) held an industry seminar lately on the steel bar market, at which Luo Tiejun, CISA vice president, emphasized that market participants know that the demand for rebar and wire rod has been slack this year, while it just slowly improved even in the traditional peak season.
However, he said, prices for rebar and wire rod may bottom up amid the implementation of national policies. Mr. Luo urged market players to pay close attention to the changes in the market, while he also suggested steel producers should adjust their production activities based on the demand from downstream users. Any substantial increase in production activities would not be advised, he said.