During the week ending July 13, Chinese export offer prices for
rebar and
wire rod have continued to indicate an upward trend. At present, boron-added
rebar offers to Southeast Asia given by Chinese suppliers are at $330-340/mt FOB, while boron-added
wire rod offers from Chinese suppliers to the same destination are at $340-350/mt FOB.
During the given week, domestic
rebar and
wire rod prices have been characterized by a upward movement, stimulating steelmakers and traders to increase their export offer prices. Currently, bullish sentiment still prevails among players in the Chinese domestic finished steel market. It is thought that
rebar and
wire rod export offer prices will likely indicate a slight upward movement in the coming week.