Chinese rebar and wire rod export prices further increase
Author: unknow
Views:
Date:
2008-6-16
Source: steelguru
It is reported that Chinese construction steel prices are still in a dull period and downward correction continue.
On Shanghai market, HRB335 20mm rebar is being quoted at CNY 5340 per tonne to CNY 5350 per tonne, HRB400 at CNY 5630 per tonne to CNY 5660 per tonne down by CNY 70 per tonne to CNY 100 per tonne from last week. Price for commercial wire rod is at CNY 5750 per tonne that for hi speed material is tagged at CNY 6080 per tonne to CNY 6090 per tonne down by CNY 20 per tonne to CNY 30 per tonne
Export price for low carbon wire rod has reached USD 120 per tonne to USD 1130 per tonne FOB and that for high carbon goes at around USD 1170 per tonne FOB.
Export offer for rebar with boron is being quoted at around USD 1000 per tonne FOB and that for rebar without boron is at USD 1070 per tonne to USD1100 per tonne FOB. But there is said to be not much transaction at the updated levels, especially for shipments to South East Asia
East China based trader said "The hot destination for Chinese construction steel exports is Middle East, where enjoy the highest market price in the world. Rebar price has reached about USD 1350 per tonne CFR in local market in Dubai, where only certified products are allowed to get in. As far as our knowledge only Shagang's rebar could enter the local market of Dubai."