According to the latest report from the International Rebar Producers and Exporters Association (IREPAS), the global long products market has faced uncertainty since Russia invaded Ukraine. Market deterioration was caused by oversupply in some regions.

However, prices have risen rapidly in Western markets due to the war. Soaring energy prices have hurt manufacturing, and inflation has hurt consumption.

The US dollar has been high against the euro, and the pandemic-related lockdown measures in China have also hurt the market.

Due to the intermittent market demand, the current market situation is volatile. However, despite the current challenges, the outlook remains bullish.