November 22, 2008

Chinese rebar and wire rod export offer further increase

It is reported that Chinese construction steel prices seem to have finished downward correction and start another round of increase. Less output, higher production cost and robust demand are believed to be bolstering the upward trend.

Shanghai market prices HRB335 20mm rebar is being quoted at CNY 5420 per tonne to CNY 5430 per tonne, HRB400 at CNY 5700 per tonne to CNY 5730 per tonne up by CNY 70 per tonne to CNY 100 per tonne from last week. Price for commercial wire rod is at CNY 5870 per tonne that for hi-speed material is tagged at CNY 6100 per tonne to CNY 6110 per tonne up by CNY 100 per tonne

Rebar and wire rod prices in Beijing market have seen remarkable rebound. 6.5mm hi speed wire rod by Tangshan steel is being quoted at CNY 5980 per tonne up by CNY 30 per tonne. HRB335 and HRB400 16mm to 22mm rebar price are largely unchanged at CNY 5570 per tonne and CNY 5770 per tonne respectively.

Export offer for rebar with boron is being quoted at about USD 1000 per tonne FOB and most are from such South China based steel makers as Guangzhou Steel, Xiangtan Steel and Liuzhou Steel. Rebar without boron is at USD 1100 per tonne FOB.

(Sourced from MySteel.net)