It is reported that Chinese rebar and wire rod price continue to edge up and the trend is set to spread into March on domestic economy stimulus plans.
In Shanghai, HRB335 20mm rebar remain flat at CNY 3760 per tonne; HRB400 grade material is posted at CNY 3860 per tonne to CNY 3900 per tonne up by CNY 40 per tonne and CNY 60 per tonne to CNY 100 per tonne from January 23rd.
Prices for commercial wire rod and hi-speed material remain rebound by CNY 70 per tonne and CNY 60 per tonne to CNY 80 per tonne from last Friday to CNY 3830 tonne and CNY 3860 per tonne to CNY 3880 per tonne respectively
Prevailing export offers for alloyed rebar remain flat at USD 570 per tonne FOB. Quotations for commercial grade are tagged at USD 620 per tonne to USD 630 per tonne FOB and USD 630 per tonne to USD 640 per tonne FOB for BS grade product.