During the week ending June 24, Chinese export offer prices for
rebar and
wire rod have moved on a downward trend. At present, boron-added
rebar offers to Southeast Asia given by Chinese suppliers are at $330-340/mt FOB, while boron-added
wire rod offers given by Chinese suppliers to the same destination are at $340-350/mt FOB.
During the given week,
rebar and
wire rod prices in the Chinese domestic market have seen a continuous declining trend, exerting a negative impact on export offer prices. In order to relieve the pressure in the domestic market,
rebar and
wire rod steelmakers and traders will likely cut their export offer prices in the coming week.