Chinese rebar and wire rod export prices increase

Wednesday, 26 June 2019 15:05:44 (GMT+3)   |   Shanghai
       

During the week ending June 26, Chinese export offer prices for rebar and wire rod have moved on an upward trend. At present, rebar offers given by Chinese suppliers are at $495-505/mt FOB, while wire rod offers are at $520-530/mt FOB.

During the given week, rebar output in China has declined, easing the pressure from the supply side somewhat. Meanwhile, import iron ore prices have moved at high levels, providing support for the rebar and wire rod market. However, inventories of rebar and wire rod have increased amid slack demand during the current offseason. It is expected that rebar and wire rod prices from China will move sideways in the coming week.

Product name

Quality

Spec.

Price ($/mt) FOB

Weekly change ($/mt)

Rebar

ASTM A615

20 mm

500

↑5

Wire rod

SAE1008-1010

7-8.5 mm

525

↑10


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