During the week ending February 20, Chinese export offer prices for rebar and wire rod have shown diverse trends. At present, rebar offers given by Chinese suppliers are at $510-525/mt FOB, while wire rod offers are at $505-530/mt FOB.
During the given week, following rapid rises on the very first day after the long holiday, due to slack demand and increased inventory levels, sentiment in the rebar and wire rod market has been more cautious. Rebar futures prices at Shanghai Futures Exchange (SHFE) have decreased again after the rebound seen on February 18, while ex-China offer prices for rebar have remained firm. It is thought that rebar and wire rod prices from China will likely edge down slightly in the coming week.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
ASTM A615 |
20 mm |
512.5 |
↑2.5 |
|
|
SAE1008-1010 |
7-8.5 mm |
512.5 |
↓17.5 |