Chinese rebar and wire rod export prices move sideways

Wednesday, 17 July 2019 16:00:44 (GMT+3)   |   Shanghai
       

During the week ending July 17, Chinese export offer prices for rebar and wire rod have moved sideways. 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 moved at high levels, providing solid support for Chinese rebar and wire rod prices from the cost side. Meanwhile, Chinese rebar and wire rod outputs have decreased due to environmental protection measures, exerting a positive impact on rebar and wire rod prices. However, the rainy weather in China has negatively affected the domestic demand for rebar and wire rod. It is thought that rebar and wire rod export prices from China will move on a stable trend in the coming week.

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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