Global Wire Rod export prices are continuously moving downwards since past two weeks. For week 17 the trade amount is declined in the range of USD 18-28/MT, globally.
The Chinese Wire export offers marked a fall of USD 20/MT with current offers at USD 415-420/MT, FoB Main Port.
With the downfall in Wire Export offer, the domestic/spot wire rod buyer remained quite with softening in prices amid the decline in the Billet offers and bearish sentiments prevailing in the market.
The prices for 8 mm wire rod (Q235) are assessed at USD 499/MT (RMB 3,430/MT) in Shanghai down by USD 17/MT (RMB 120) & in the Beijing offers stood at USD 529/MT (RMB 3,640/MT) with a fall by USD 20/MT (RMB 140), W-o-W.
Other global markets also registered a slump in the prices, as the Chinese market is directly influencing other global export offers.
CIS exports marked a fall in the prices by USD 18/MT with current offers at USD 435-445/MT. UAE Imports plunge by USD 28/MT, offering USD 425-435/MT.
Global Rebar Prices as on 18 April 2017 (Week 17)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) |
415-420 |
-20 |
| CIS export (FoB Black Sea) |
435-445 |
-18 |
| South East Asia (CFR) |
425-435 |
-28 |
Prices in USD/MT, USD 1= RMB 6.88
Source: SteelMint Research
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