During the week ending December 21, 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 $460-465/mt FOB, while mesh quality wire rod offers from Chinese suppliers to the same destination are at $485-490/mt FOB.
During the given week, sentiment in the domestic rebar and wire rod market has been positive, providing support for rebar and wire rod export offer prices. Raw material prices have indicated some downward corrections and so some traders have lowered their rebar and wire rod prices in the domestic market, which will exert negative pressure on rebar and wire rod export offer prices. It is thought that Chinese export offer prices for rebar and wire rod will soften in the coming week.