During the week ending November 11, Chinese export offer prices for rebar and wire rod have indicated a decreasing trend. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $255-265/mt FOB, while boron-added wire rod offers given by Chinese suppliers to the same destination are at $280-290/mt FOB.
The declining trends of iron ore and semi-finished steel prices have weakened the support for rebar and wire rod prices. Meanwhile, consumption of rebar and wire rod in the Chinese domestic market has become slacker with the approach of winter, especially in northern China, resulting in increased availability of supply for the export market, thereby exerting downward pressure on export offer prices. It is thought that rebar and wire rod export offer prices from China will likely move on a stable trend in the coming week, following the declines already seen in recent weeks.