During the week ending March 29, Chinese export offer prices for rebar and wire rod have indicated a slight downtrend. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $470-480/mt FOB, while boron-added wire rod offers from Chinese suppliers to the same destination are at $485-495/mt FOB.
During the given week, domestic rebar and wire rod prices have softened, both in the futures market and in the spot market, exerting a negative impact on Chinese export offer prices for rebar and wire rod. Meanwhile, iron ore prices have also declined. Against the backdrop of overall soft trend seen in the Chinese steel market lately, it is thought that rebar and wire rod export offer prices from China will likely move down further in the coming week.