During the week ending May 15, Chinese export offer prices for rebar and wire rod have moved downwards. At present, rebar offers given by Chinese suppliers are at $500-510/mt FOB, while wire rod offers are at $530-540/mt FOB.
During the given week, the escalation of the US-China trade war has negatively impacted the steel futures market, in turn resulting in the slight declines seen in both domestic and export offer prices for rebar and wire rod. However, declines in inventories give a certain degree of support for rebar and wire rod prices. Amid the instability caused by trade tensions, it is thought rebar and wire rod export offer prices from China will likely move down in the coming week.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
ASTM A615 |
20 mm |
505 |
↓10 |
|
|
SAE1008-1010 |
7-8.5 mm |
535 |
↓10 |