Chinese rebar and wire rod export offers move on stable trend

During the week ending August 12, 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 $315-325/mt FOB, while boron-added wire rod offers given by Chinese suppliers to the same destination are at $340-350/mt FOB.
 
After the previous rises seen in rebar and wire rod export prices, orders from overseas purchasers have decreased. Meanwhile, the rising trend in iron ore prices has come to a halt, contributing to the stable trend of rebar and wire rod export prices. It is expected that Chinese rebar and wire rod export offer prices will likely move sideways in the coming week.