During the week ending February 17, Chinese export offer prices for rebar and wire rod have followed 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 from Chinese suppliers to the same destination are at $265-275/mt FOB.
During the Chinese New Year holiday, the export market has been very quiet, resulting in a stable price trend. As the holiday has just ended, steelmakers and traders have not yet adjusted their offer prices. However, since bullish sentiment prevails in the Chinese domestic finished steel market and as iron ore prices have indicated a rising trend, it is thought that rebar and wire rod export offer prices from China will likely edge up in the coming week.