During the week ending May 29, 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 $500-510/mt FOB, while wire rod offers are at $530-540/mt FOB.
During the given week, due to the support from rising iron ore and coke prices, Chinese rebar and wire rod producers have kept their export prices stable. Meanwhile, inventories of rebar and wire rod have declined, reflecting the ongoing strength of demand for rebar and wire rod from construction sites. However, since demand will slacken in the near future, market players are somewhat downbeat as regards the future prospects for prices. It is expected rebar and wire rod prices from China will soften in the coming week.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
ASTM A615 |
20 mm |
505 |
0 |
|
|
SAE1008-1010 |
7-8.5 mm |
535 |
0 |