During the week ending July 22, Chinese export offer prices for
rebar and
wire rod have moved on a stable trend. 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 given by Chinese suppliers to the same destination are at $325-335/mt FOB.
During the given week, Chinese domestic finished steel prices have temporarily followed a stable trend, providing support to
rebar and
wire rod export offer prices from
China. Since imported iron ore prices have indicated a slight rebound, and local demand for finished steel has shown improvement, it is expected that Chinese
rebar and
wire rod export offer prices will likely gain support and also see a slight rebound in the coming week.