SteelOrbis

Chinese rebar and wire rod export offer prices decrease

Wednesday, 11 January 2017 14:38:48 (GMT+3)   -   Shanghai

During the week ending January 11, Chinese export offer prices for rebar and wire rod have indicated a downtrend. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $415-425/mt FOB, while boron-added wire rod offers from Chinese suppliers to the same destination are at $425-435/mt FOB.

During the given week, sentiment in the domestic rebar and wire rod market has been negative exerting pressure on rebar and wire rod export offer prices. However, recently, the ferrous metal futures prices indicated a sharp rebound providing support for rebar and wire rod prices in the domestic spot market and in the export market. It is thought that Chinese export offer prices for rebar and wire rod will move sideways or likely edge up in the coming week.


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