During the week ending August 17, Chinese export offer prices for
rebar and
wire rod have continued their rising trend. At present, boron-added
rebar offers to Southeast Asia given by Chinese suppliers are at $350-360/mt FOB, while boron-added
wire rod offers from Chinese suppliers to the same destination are at $375-385/mt FOB.
During the given week, the continuous rising trend seen in the Chinese domestic finished steel market has pushed up export offer prices for
rebar and
wire rod. Meanwhile, increases in prices of iron ore and semi-finished steel prices have also provided support from the cost side for Chinese export offer prices for
rebar and
wire rod. It is thought that Chinese export offer prices for
rebar and
wire rod will likely continue their upward movement in the coming week.