During the week ending November 18, Chinese export offer prices for wire rod have indicated a decreasing trend, though rebar export prices have remained relatively stable. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $255-265/mt FOB, while boron-added wire rod offers given by Chinese suppliers to the same destination are at $275-280/mt FOB.
Since rebar export offer prices were already at low levels, Chinese exporters have not decreased their rebar export prices further, while they have reduced their wire rod export prices, which had been at relatively higher levels. Currently, there are plentiful supplies of rebar and wire rod in the export market, with strong competition in the market. It is thought that rebar and wire rod export offer prices from China will likely follow a slight downtrend in the coming week.