Steel rebar prices across APAC and the GCC were broadly lower through 2025 relative to Q1 2024, reflecting weaker construction activity and oversupply conditions across major markets. China remained a key influence on regional trends, as subdued residential construction activity, elevated inventories and cautious buying behaviour weighed on demand for much of the year, contributing to ongoing export‑led price competition across Asia. This environment also affected other Asian markets, particularly where private sector construction slowed, and procurement activity remained conservative. Exceptions include Malaysia, Taiwan, KSA and the UAE where prices edged higher due to tighter local supply conditions, ongoing infrastructure activity and rising production and logistics costs.

In Q1 2026, steel rebar prices across most of APAC countries increased in the range of 1% to 5% on a QoQ basis largely driven by seasonal restocking following year‑end slowdowns, firmer scrap and billet input costs, and pockets of marginal improvement in construction activity. India however recorded the largest increase of 15.2%, as tighter import safeguards, rising infrastructure‑led construction demand, and rising cost pressure from raw materials such as coking coal and freight combined to lift domestic steel prices in early 2026. Japan remained broadly stable amid subdued construction demand, while Taiwan recorded selective price increases as producers restrained output and passed through higher input costs, despite overall construction activity remaining soft. Singapore saw a 3% dip due to a supply and demand mismatch. As an import-driven market, cost pressures were delayed and showed in April prices. Prices rose 6% MoM in April 2026.

In Q2 2026, steel rebar prices are expected to move higher, led by cost pressures rather than a demand-led recovery. The escalation of the Middle East conflict pushed up energy, freight and scrap costs, prompting mills across the region to raise prices. Japan is forecasted to witness its first rebar price increase in around two years, driven by higher energy and raw material costs, even though construction demand remained weak. KSA and the UAE are expected to witness an increase in price driven by input cost pressures, logistic risks and growing demand from energy and infrastructure project activities. Broader regional softness and cost pressures are expected to cap stronger price gains. Australia is projected to register a modest price decline, as subdued construction demand and ongoing oversupply continue to limit pricing power.