August 30, 2008

Chinese rebar export prices gain a bit in last week

It is reported that Chinese domestic construction steel prices remained unchanged last week but export offers surged due to general improvement in global market.

As per market reports, HRB335 grade 20mm rebar at Shanghai remained at CNY 4260 per tonne to CNY 4280 per tonne, HRB400 grade rebar at CNY 4360 per tonne to CNY 4380 per tonne and commercial grade rebar at CNY 4280 per tonne and high speed grade wire rod at CNY 4390 per tonne.

Export price for rebar in last week prevailed at around USD 730 per tonne on FOB basis. . It is reported that most products will flow to Vietnam and Singapore where prices are much better than other countries.

According to South Korean Steel Daily, Chinese offer for South Korea are looking up and Laiwu Steel has raised its offers by USD 20 per tonne to USD 760 per tonne on CFR basis for 10mm rebar with KS certification and JIS grade rebar was being quoted at USD 745 per tonne CFR basis.