Chinese rebar and wire rod export offers move up further

During the week ending April 27, Chinese export offer prices for rebar and wire rod have indicated an upward trend. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $415-425/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 sharp rises in Chinese domestic finished steel prices have caused Chinese steel producers and traders to increase their export offer prices as well. However, in recent days, finished steel prices in the Chinese domestic market have showed signs of softening, which will likely affect export offer prices also. It is thought that rebar and wire rod export offer prices from China will move on a stable trend in the coming week.