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Chinese rebar and wire rod export price may decrease

It is reported that Chinese steel makers are quite careful on quotations of construction steel products citing the possible risk of price drop and contract default.

Domestic market prices keep going down. Shanghai market prices for HRB335 20mm rebar is being quoted at CNY 5130 per tonne to CNY 5140 per tonne, HRB400 grade material is being quoted at CNY 5190 per tonne to CNY 5220 per tonne down by CNY 10 per tonne and CNY 40 per tonne from last Thursday. Commercial wire rod is at CNY 5260 per tonne that for hi speed material goes at CNY 5310 per tonne a decrease of CNY 150 per tonne and CNY 160 per tonne from late last week

Export offers for rebar are about USD 960 per tonne to USD 970 per tonne for 10mm to 25mm and contract prices are believed to be as low as USD 950 per tonne to USD 960 per tonne FOB. While there is also steel producer who is quoting its BS4449 Grade 460 rebar with CARES certification at USD 1350 per tonne CFR for shipments to Dubai.

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