During the week ending May 8, Chinese export offer prices for rebar and wire rod have moved on a stable trend. At present, rebar offers given by Chinese suppliers are at $510-520mt FOB, while wire rod offers are at $540-550/mt FOB.
During the given week, inventories of rebar and wire rod in China have decreased, reflecting good demand from downstream users. Some major steelmakers have issued ex-works prices, raising their rebar and wire rod prices. Currently, import iron ore prices are at high levels, providing support for rebar and wire rod prices. However, the traditional peak business season of March and April has ended and so demand may be slacker in the coming period. It is expected that rebar and wire rod prices from China will edge down slightly in the coming week.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
ASTM A615 |
20 mm |
515 |
0 |
|
|
SAE1008-1010 |
7-8.5 mm |
545 |
0 |