Chinese rebar and wire rod export offer prices move up

During the week ending August 10, Chinese export offer prices for rebar and wire rod have indicated an overall rising trend. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $345-350/mt FOB, while boron-added wire rod offers from Chinese suppliers to the same destination are at $355-365/mt FOB.
 
During the given week, amid the rising trends of domestic ferrous metal futures prices and of rebar and wire rod prices in the local spot market, Chinese traders and steelmakers have increased their export offer prices for rebar and wire rod. Since domestic rebar and wire rod prices will likely continue to rise, it is thought that Chinese export offer prices for rebar and wire rod will maintain their upward movement in the coming week.