Chinese rebar and wire rod export offers face negative pressures

During the week ending August 26, Chinese export offer prices for rebar have moved sideways, while wire rod export offers have softened. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $315-325/mt FOB, while boron-added wire rod offers given by Chinese suppliers to the same destination are at $335-345/mt FOB
 
The overall nervousness and price decreases in the international commodity markets have exerted a negative impact on Chinese export offer prices for finished steel. Meanwhile, domestic finished steel prices and iron ore prices have softened, also negatively affecting rebar and wire rod export offer prices. Accordingly, Chinese steelmakers and traders will likely reduce their rebar and wire rod export offer prices slightly in the coming period.