Chinese rebar and wire rod export prices sliding
Chinese rebar and wire rod export prices sliding
- 10 Aug 2008
It is reported that exports of Chinese rebar and wire rod are quite difficult now with halt and weakening in overseas market prices and the arrival of low season for demand.
Domestic market prices are still on the decrease. Shanghai market prices for HRB335 20mm rebar is being quoted at CNY 5130 per tonne to CNY 5150 per tonne, HRB400 grade material is being quoted at CNY 5220 per tonne to CNY 5250 per tonne down by CNY 60 per tonne and CNY 130 per tonne from last Thursday. Commercial wire rod is at CNY 5360 per tonne that for hi-speed material goes at CNY 5410 per tonne to CNY 5430 per tonne a decrease of CNY 40 per tonne and CNY 130 per tonne from late last week
Export offers for rebar are about USD 1030 per tonne to CNY 1050 per tonne FOB. Lower level is at about USD 990 per tonne to USD 980 per tonne FOB for 10mm to 25mm with boron and contract prices are believed to be at USD 960 per tonne to USD 970 per tonne FOB. However, Shagang is said to be quoting its BS4449 Grade 460 rebar at USD 1370 per tonne CFR for shipments to Dubai.
