During the week ending August 10, Chinese export offer prices for
rebar and
wire rod have indicated an overall rising trend. At present, boron-added
rebar offers to Southeast Asia given by Chinese suppliers are at $345-350/mt FOB, while boron-added
wire rod offers from Chinese suppliers to the same destination are at $355-365/mt FOB.
During the given week, amid the rising trends of domestic ferrous metal futures prices and of
rebar and
wire rod prices in the local spot market, Chinese traders and steelmakers have increased their export offer prices for
rebar and
wire rod. Since domestic
rebar and
wire rod prices will likely continue to rise, it is thought that Chinese export offer prices for
rebar and
wire rod will maintain their upward movement in the coming week.