During the week ending November 9, Chinese export offer prices for
rebar and
wire rod have increased. At present, boron-added
rebar offers to Southeast Asia given by Chinese suppliers are at $380-390/mt FOB, while boron-added
wire rod offers from Chinese suppliers to the same destination are at $415-425/mt FOB.
During the given week, rises in semi-finished steel and iron ore prices have provided support for
rebar and
wire rod prices in the Chinese domestic market, causing exporters to increase their offer prices for
rebar and
wire rod. It is expected that Chinese export offer prices for
rebar and
wire rod will move up further in the coming week as bullish sentiment still prevails in the domestic
rebar and
wire rod market.