During the week ending April 19, Chinese export offer prices for rebar and wire rod have continued their downward trend. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $435-445/mt FOB, while boron-added wire rod offers from Chinese suppliers to the same destination are at $440-450/mt FOB.
The significant declines seen in domestic steel billet prices last weekend and the downward movement of domestic ferrous metal futures prices in the past week have contributed to decreases in Chinese domestic rebar and wire rod prices, which in turn have negatively impacted export prices and resulted in poor sentiment among exporters. It is thought that rebar and wire rod export offer prices will likely move down further in the coming week.