During the week ending December 14, 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 $440-450/mt FOB, while mesh quality wire rod offers from Chinese suppliers to the same destination are at $455-465/mt FOB.
During the given week, rising raw material prices and low inventory levels in China have caused steelmakers and traders to increase their domestic offer prices for rebar and wire rod. With support from higher domestic prices, rebar and wire rod export offer prices have also moved up. It is thought that Chinese export offer prices for rebar and wire rod will likely move sideways in the coming week after the previous significant increases in prices.