During the week ending April 12, Chinese export offer prices for rebar and wire rod have continued their downward trend. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $445-455/mt FOB, while boron-added wire rod offers from Chinese suppliers to the same destination are at $455-465/mt FOB.
During the given week, the decreases in domestic rebar and wire rod prices have contributed to the soft trend of Chinese export offer prices for rebar and wire rod. Meanwhile, the domestic ferrous metal futures market has also indicated declines, negatively impacting sentiment among exporters. It is thought that Chinese rebar and wire rod export offer prices will likely move down further in the coming week.