During the week ending December 7, 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 $420-430/mt FOB, while mesh quality wire rod offers from Chinese suppliers to the same destination are at $445-455/mt FOB.
During the given week, new environmental protection measures in China have targeted intermediate frequency melting furnaces, halting production by such furnaces, thereby causing steelmakers and traders to increase their domestic offer prices for rebar and wire rod. With support from domestic rebar and wire rod prices, rebar and wire rod export offer prices have also increased. It is thought that Chinese export offer prices for rebar and wire rod will likely edge up further in the coming week.