Surge of export price for Chinese rebar lasts, but may slow down soon

摘要

Export price for Chinese rebar continues to soar as the increase of local quotes is gathering momentum. However,the growth may slow down given the futures plunge seen on Wednesday.This week most Chinese exporters are quoting rebar at $610?620/t FOB on a theoretical weight basis ($628?639/tFOB on an actual weight basis) for January shipment, with the range lifting by $20?30/t since last Wednesday. Somesuppliers announced even bigger growth, in particular, both Shagang Group and Zenith Steel are setting rebar priceat $620/t FOB, lifting it by $35/t and $40/t respectively in a week.