During the week ending March 6, Chinese export offer prices for rebar and wire rod have increased. At present, rebar offers given by Chinese suppliers are at $515-525/mt FOB, while wire rod offers are at $540-550/mt FOB.
During the given week, demand for rebar and wire rod in China has improved as construction sites have resumed their construction activities. However, the ongoing rainy weather, especially in eastern and southern China, continues to negatively affect demand. At the same time, buyers in Southeast Asia have shown some unwillingness to conclude purchases at current Chinese rebar and wire rod export price levels, which they consider to be on the high side. It is expected that rebar and wire rod prices from China will undergo a downward correction in the coming week.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
ASTM A615 |
20 mm |
520 |
↑10 |
|
SAE1008-1010 |
7-8.5 mm |
545 |
↑10 |