Chinese domestic rebar and wire rod prices still move on soft trend

Amid the sluggishness of the international market, the domestic steel market in China has remained on a downtrend. In the spot market, the leading Chinese steelmakers have lowered their ex-mill offers for long steel products. Meanwhile, with steel production levels still high, most traders are less confident about the future prospects of the rebar and wire rod market. It is expected that the domestic rebar and wire rod market in China will continue to fluctuate in a downward direction in the short term.