In recent weeks, the improvement in the global long products market could be attributed to the recovery of demand in China and some countries.

The International Rebar Exporters and Producers Association (IREPAS) indicated that the international supply was getting tighter and caused a price increase.

In the European Union, due to limited alternative options, the prices of most imported long products were not competitive, and quotas had been exhausted.

US steel mills were fully loaded. Meanwhile, transportation delays, high costs, and extended delivery times made it more difficult for imported long products to reach the US and keep the US market in short supply.

China's domestic demand growth had become a supporting factor for the price. China's cancellation of export tax rebates for long products would create more business opportunities for alternative suppliers.

IREPAS believed that the outlook for the global long products market is optimistic.