During the week ending August 24, Chinese export offer prices for
rebar and
wire rod have continued their rising trend. At present, boron-added
rebar offers to Southeast Asia given by Chinese suppliers are at $360-370/mt FOB, while boron-added
wire rod offers from Chinese suppliers to the same destination are at $380-390/mt FOB.
During the given week, finished steel prices in the Asian market have moved on a rising trend, especially in the Chinese domestic market. Chinese steelmakers and traders have continued to increase their export offer prices for
rebar and
wire rod. However, many overseas buyers have reduced their purchases of
rebar and
wire rod. It is thought that Chinese export offer prices for
rebar and
wire rod will likely move on a stable trend in the coming week.