During the week ending June 1, Chinese export offer prices for
rebar have indicated a downward trend. At present, boron-added
rebar offers to Southeast Asia given by Chinese suppliers are at $325-335/mt FOB, while boron-added
wire rod offers from Chinese suppliers to the same destination are at $355-365/mt FOB.
Rainy weather in
China has exerted a negative impact on demand for
rebar in the Chinese domestic market, placing increased pressure on steelmakers and traders, resulting in declines in their export offer prices. However,
wire rod supply for the export market has been on the short side, which has provided support for prices. It is thought that
rebar and
wire rod export prices from
China will likely edge down in the coming week due to the weak performance of the Chinese domestic ferrous metal markets.