SteelOrbis

Chinese rebar and wire rod export offer prices soften significantly

Wednesday, 04 January 2017 11:36:11 (GMT+3)   -   Shanghai

During the week ending January 4, Chinese export offer prices for rebar and wire rod have indicated significant declines. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $425-435/mt FOB, while boron-added wire rod offers from Chinese suppliers to the same destination are at $435-445/mt FOB.

During the given week, decreases in Chinese domestic finished steel prices have exerted a negative impact on Chinese rebar and wire rod export prices. Meanwhile, international iron ore prices have softened, putting pressure on the international finished steel market and causing China's domestic traders to lower their export offer prices. It is expected that in the coming week Chinese export offer prices for rebar and wire rod will decline further due to pressure from decreases in domestic and overseas finished steel prices.


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