Chinese rebar and wire rod export prices increase

During the week ending April 17, Chinese export offer prices for rebar and wire rod have increased. At present, rebar offers given by Chinese suppliers are at $520-530mt FOB, while wire rod offers are at $550-560/mt FOB.

During the given week, rebar and wire rod inventories in China have declined compared to the previous week, reflecting good demand. Iron ore futures prices at Dalian Commodity Exchange (DCE) have softened in the given week, though they are still at relatively high levels. However, downward risks have been building up in rebar and wire rod prices following the price rises seen in the recent period. It is thought that rebar and wire rod prices from China will likely fluctuate on a soft trend in the coming week.