Chinese rebar and wire rod export prices move sideways

Wednesday, 03 April 2019 17:33:43 (GMT+3)   |   Shanghai
       

During the week ending April 3, Chinese export offer prices for rebar and wire rod have moved sideways. At present, rebar offers given by Chinese suppliers are at $510-520mt FOB, while wire rod offers are at $540-550/mt FOB.

During the given week, iron ore prices have increased, providing support for rebar and wire rod prices in China. However, Chinese steelmakers’ capacity utilization rates have risen, which will likely exert negative pressure on rebar and wire rod prices. Overseas buyers are also maintaining a wait-and-see stance as they wait to see the trend of rebar and wire rod prices from China. It is thought that rebar and wire rod prices from China will likely move on a slightly rising trend in the coming week.

Product name

Quality

Spec.

Price ($/mt) FOB

Weekly change ($/mt)

Rebar

ASTM A615

20 mm

515

0

Wire rod

SAE1008-1010

7-8.5 mm

545

0


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