As the Chinese Lunar New Year holiday approaches, the pace of long materials trading in the region has slowed. However, prices of raw materials and semi-finished goods continue to rise, supporting the price of Asian long materials factories. China Rebar is offering $655-660 / t CFR to Singapore Riege, and Malaysia is also offering $645-650 / t CFR from last week’s prevailing $635 / t CFR. A large steel mill in East China this week increased the export offer of B500 rebar to $640 / ton FOB weight, up $35 / ton from two weeks ago.

 In terms of wire, the export price of China’s resources also tends to rise this week. East China’s leading steel mill SAE1065 wire offers $685 / ton FOB this week, while a large steel mill in Northeast China offers $640 / ton FOB SAE1008 wire.

 As China’s rebar resources did not have a price advantage in the Asian market for most of the year, the full-year export volume declined further compared to last year, especially to traditional markets. However, orders have recently been opened to individual non-traditional destination markets. It is understood that a large steel mill in northeast China exported 10,000 tons of rebar to Jamaica in North America at the end of December. According to customs data, China exported 11,000 tons of rebar to Jamaica in November. Before this, China rebar and no large orders to the region’s export transactions.