During the week ending November 30, Chinese export offer prices for rebar and wire rod have increased. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $395-405/mt FOB, while boron-added wire rod offers from Chinese suppliers to the same destination are at $425-435/mt FOB.
During the given week, rises in ferrous metal futures prices and rebar and wire rod prices in the Chinese domestic market, provided support for exporters to increase their offer prices for rebar and wire rod. However, ferrous metal futures prices have started to indicate downward movement in the last two days, which will exert negative pressure on rebar and wire rod export offer prices. It is thought that Chinese export offer prices for rebar and wire rod will likely move on downward trend in the coming week.