October 11, 2008

Chinese rebar and wire rod export prices continue to move up

It is reported that export offers for Chinese rebar and wire rod export prices continue to move up this week although domestic market prices were largely unchanged during the week.
On Shanghai market, HRB335 20mm rebar was being quoted at CNY 4710 per tonne to CNY 4730 per tonne, HRB400 at CNY 4800 per tonne to CNY 4820 per tonne. Commercial wire rod was at CNY 5000 per tonne level and hi speed material at CNY 5040 per tonne.

Export offers for rebar were at USD 860 per tonne to USD 870 per tonne on FOB basis another increase of USD 30 per tonne to USD 40 per tonne ton from early last week.

Wire rod was being quoted at USD 890 per tonne to USD 900 per tonne FOB.

As per report there is strong likelihood that export quotations would stay at high level, but it remains to see how the transaction would be at the updated levels.

(Sourced from MySteel.net)