During the week ending May 3, Chinese export offer prices for rebar and wire rod have indicated a stable trend. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $430-440/mt FOB, while boron-added wire rod offers from Chinese suppliers to the same destination are at $435-445/mt FOB.
During the given week, the significant rebound in semi-finished prices in the Chinese domestic market and the ongoing increases in ferrous metal futures prices in China have provided support for the rising trend of domestic rebar and wire rod prices. However, demand for Chinese rebar and wire rod in the export markets has been slacker, contributing to the stable trend of rebar and wire rod export prices. It is thought that rebar and wire rod export offer prices will likely continue to move sideways in the coming week.