Chinese rebar and wire rod export prices move sideways

Wednesday, 10 July 2019 16:17:36 (GMT+3)   |   Shanghai
       

During the week ending July 10, 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 $520-530/mt FOB.

During the given week, iron ore prices have been at high levels, providing solid support for rebar and wire rod prices in China. Despite improved sentiment as regards the future prospects for the market due to better US-China relations, the increased rebar and wire rod output in the given week has exerted some negative pressure on prices of these long steel products. Inventory levels of rebar and wire rod have risen, which will negatively influence prices in the coming period. It is expected that rebar and wire rod prices from China will move sideways in the week ahead.

Product name

Quality

Spec.

Price ($/mt) FOB

Weekly change ($/mt)

Rebar

ASTM A615

20 mm

505

0

Wire rod

SAE1008-1010

7-8.5 mm

525

0


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