Higher rebate expected to stimulate Chinese wire rod export activity
News that China will raise the rebate for wire rod exports later this week has led to growing expectations among market participants for lower prices and increased trading activity to emerge.
China will raise the export rebate to 13% from 10% for a large number of steel products
- including wire rod - from March 20, according to a notice released by the Ministry of Finance late on Tuesday March 17.
Fastmarkets’ weekly price assessment for April/May shipments of steel...