During the week ending April 22, Chinese export offer prices for construction steel products have indicated a declining trend. At present, boron-added rebar offers to Southeastern Asia given by Chinese suppliers are at $340-350/mt FOB, while boron-added wire rod offers given by Chinese suppliers are at $350-360/mt FOB, both declining by $10/mt week on week.
At present, there is oversupply of construction steel products in the domestic market and so some steelmakers and traders have lowered their export offer prices to stimulate export activity. In the Chinese domestic market, finished steel prices have failed to continue their rebound, and this has also exerted a negative impact on export prices. Since iron ore prices have lately been moving sideways, it is expected that Chinese construction steel product export prices will move on a stable trend in the coming week.