Chinese rebar and wire rod export prices continue their stable trend

Wednesday, 30 January 2019 13:39:39 (GMT+3)   |   Shanghai
       

During the week ending January 30, Chinese export offer prices for rebar and wire rod have continued their stable trend. At present, rebar offers given by Chinese suppliers are at $470-480/mt FOB, while wire rod offers are at $480-490/mt FOB.

During the given week, rebar and wire rod export offer prices from China have moved sideways due to the approach of the Chinese New Year holiday. However, the pig iron output of steelmakers in the Tangshan region has increased significantly, which will likely exert some negative pressure on the finished steel market after the holiday. On the other hand, the Brazil dam collapse has pushed up import iron ore prices, which will bolster finished steel prices. It is expected that rebar and wire rod offer prices from China will continue their stable trend before and during the holiday period, but will likely move upwards after the holiday.

Product name

Quality

Spec.

Price ($/mt) FOB

Weekly change ($/mt)

Rebar

ASTM A615

20 mm

475

0

Wire rod

SAE1008-1010

7-8.5 mm

485

0

 


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