During the week ending February 27, Chinese export offer prices for rebar have softened, while export offers for wire rod have increased. At present, rebar offers given by Chinese suppliers are at $505-515/mt FOB, while wire rod offers are at $530-540/mt FOB.
During the given week, due to the ongoing rainy weather conditions and the continuing slow recovery demand from downstream users, domestic rebar and wire rod prices have moved on a soft trend. However, wire rod export prices from China have increased with the support of stronger demand from buyers compared to demand for Chinese rebar exports. Meanwhile, in northern China, production will likely be restricted due to heavy pollution. It is thought that rebar and wire rod prices from China will likely edge up in the coming week.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
ASTM A615 |
20 mm |
510 |
-7.5 |
|
|
SAE1008-1010 |
7-8.5 mm |
535 |
+17.5 |