During the week ending October 21, Chinese export offer prices for rebar have indicated a decreasing trend, though wire rod export prices have remained relatively stable. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $265-275/mt FOB, while boron-added wire rod offers given by Chinese suppliers to the same destination are at $300-310/mt FOB.
During the given week, the slight downtrend in Chinese domestic finished steel prices has exerted a negative impact on export offer prices for rebar and wire rod. Meanwhile, iron ore prices have moved on a declining trend, also negatively affecting finished steel prices. It is expected that Chinese rebar and wire rod export prices will likely be characterized by a soft trend in the coming week, though decreases will be small as prices are already considered to be at low levels.