During the week ending June 8, 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 $305-315/mt FOB, while boron-added wire rod offers from Chinese suppliers to the same destination are at $325-335/mt FOB.
During the given week, Chinese suppliers have come under increased pressure to boost their sales, causing them to lower their export offer prices. Wire rod supplies are relatively plentiful in the export market, exerting a negative impact on export offer prices. Currently, since finished steel prices in the Chinese domestic market have shown some signs of stabilization, and as the Dragon Boat Festival Holiday (June 9-12) is approaching, it is thought that rebar and wire rod export offer prices will move on a stable trend in the coming week.