Chinese rebars and wire rod tariffs continue to slump and the trend is expected to spread across February 2009. In Shanghai markets, HRB 335 20 mm rebar was flat at 3720 Chinese yuan per ton. HRB 400 rebar was quoted at 3800 Chinese yuan per ton which marks an increase of 100 Chinese yuan per ton.
Commercial wire rod and hi- speed material was priced 3760 Chinese yuan per ton and 3800 Chinese yuan per ton which marks in cages of 80 Chinese yuan per ton and 60 Chinese yuan per ton to 80 Chinese yuan per ton, respectively.
Export offers of alloyed rebar were flat at US$570 per ton FOB. Commercial grade rebars were quoted at US$620 per ton to US$630 per ton FOB. Similarly, BS grade rebars were quoted at US$630 per ton to US$640 per ton FOB.
Some exports to South Korea were witnessed at US$550 per ton. Some rebar exports from Shandon province in northern China took place at US$400 per ton CFR.