During the week ending June 29, Chinese export offer prices for
rebar and
wire rod have indicated various trends. At present, boron-added
rebar offers to Southeast Asia given by Chinese suppliers are at $305-315/mt FOB, while boron-added
wire rod offers from Chinese suppliers to the same destination are at $315-325/mt FOB.
During the given week, domestic
rebar and
wire rod prices have been characterized by a slight upward movement, with transaction activity at low levels in the domestic market. Accordingly, Chinese steelmakers and traders have adjusted their export offer prices slightly to stimulate exports and alleviate pressure on
rebar and
wire rod supply in
China. Since
rebar and
wire rod prices in the Chinese domestic market are not expected to move up significantly, it is thought that
rebar and
wire rod export offer prices will likely follow a stable trend in the coming week.