September 08, 2008

Chinese construction steel export price keep firm

It is reported that export offers for Chinese construction steel remained firm this week, bolstered by the improvement in both domestic and overseas market price.

Chinese domestic market prices have seen rebound this week. On Shanghai market, HRB335 20mm rebar is being quoted at CNY 4800 per tonne to CNY 4810 per tonne up by CNY 40 per tonne, HRB400 at CNY 4840 per tonne to CNY 4850 per tonne. Commercial wire rod goes at CNY 5020 per tonne, hi speed material at CNY 5040 per tonne.

Export offers are largely unchanged. Prevailing export offers for rebar are still at USD 860 per tonne to USD 870 per tonne FOB. Wire rod is being quoted at USD 890 per tonne to USD 900 per tonne FOB an increase of USD 10 per tonne. Some steel makers are tagging at USD 860 per tonne FOB for material with boron.

(Sourced from MySteel.net)