Chinese rebar and wire rod export offer prices move down

During the week ending May 25, Chinese export offer prices for rebar and wire rod have indicated a downward trend. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $335-345/mt FOB, while boron-added wire rod offers from Chinese suppliers to the same destination are at $355-365/mt FOB.
 
Currently, since oversupply exists in the Chinese domestic rebar and wire rod market, exporters have lowered their prices in order to stimulate sales. Meanwhile, approaching the hot summer offseason in China, domestic demand will be slacker in the coming months. It is expected that rebar and wire rod export offer prices from China will likely continue their downward movement in the coming week.