Chinese rebar and wire rod export offer prices soften

Wednesday, 15 May 2019 14:09:18 (GMT+3)   |   Shanghai
       

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)

Rebar

ASTM A615

20 mm

505

↓10

Wire rod

SAE1008-1010

7-8.5 mm

535

↓10


Most Recent Related Articles

MOC: Average steel prices in China fluctuate last week

Shagang Group keeps local longs prices stable for early July

MOC: Average steel prices in China edge down last week

China’s rebar output rises quickly in May

MOC: Average steel prices in China fluctuate within limited range last week