Chinese rebar and wire rod export offers move sideways

During the week ending November 25, 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 $255-265/mt FOB, while boron-added wire rod offers given by Chinese suppliers to the same destination are at $275-280/mt FOB.
 
Following the continuous declines already seen in Chinese rebar and wire rod export prices, Chinese steelmakers and traders have decided to suspend any further downward adjustments of their export offer prices for the time being. At the same time, however, rebar and wire rod prices in the Chinese domestic market have continued to move on a soft trend, exerting a negative impact on export prices. It is expected that rebar and wire rod export offer prices from China will likely continue to move sideways in the coming period.