During the week ending May 27, Chinese export offer prices for rebar and wire rod have continued their stable trend. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $340-350/mt FOB, while boron-added wire rod offers given by Chinese suppliers to the same destination are at $350-360/mt FOB, both remaining unchanged week on week.
Although rebar and wire rod prices in the Chinese domestic market have softened in the given week, steelmakers and traders have been reluctant to lower their export offer prices . Meanwhile, in the international steel market, prices have mostly been stable, providing support for the stable movement of Chinese rebar and wire rod export prices. It is thought that rebar and wire rod export prices from China will likely continue to indicate sideways movement in the coming week.