During the week ending December 2, Chinese export offer prices for rebar and wire rod have continued their stable 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 $275-280/mt FOB.
During the given week, the declines in prices of iron ore and finished steel have exerted some negative pressure on export offer prices of rebar and wire rod. Since China’s rebar and wire rod export offer prices are much lower than export offer prices from most countries, Chinese steelmakers and traders are unlikely to reduce their export prices further for the time being. It is expected that rebar and wire rod export offer prices from China will continue their stable movement in the week ahead.