During the week ending July 29, 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.
Rebar and wire rod prices in the Chinese domestic market have followed a mostly stable trend though with rises in some regions. Meanwhile, a slight rebound has been seen in iron ore prices, which has provided a certain degree of support for the finished steel market. It is thought that Chinese rebar and wire rod export offer prices will likely remain on a stable trend in the coming week, though slight upticks are not excluded.