During the week ending March 20, Chinese export offer prices for rebar and wire rod have increased slightly. At present, rebar offers given by Chinese suppliers are at $515-525mt FOB, while wire rod offers are at $540-550/mt FOB.
During the given week, inventory levels of rebar and wire rod in China have decreased, bolstering rebar and wire rod prices. Activity at construction sites across the country have accelerated recently, providing support for rebar and wire rod prices due to better demand. Meanwhile, some steelmakers have implemented production cuts, easing the pressure on prices from the supply side. Steelmakers in northern China will likely resume production by the end of this month or at the beginning of next month, which will increase supply to the market. It is expected that rebar and wire rod export prices from China will fluctuate within a limited range in the coming week.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
ASTM A615 |
20 mm |
520 |
↑5 |
|
SAE1008-1010 |
7-8.5 mm |
545 |
↑5 |