During the week ending March 22, Chinese export offer prices for rebar and wire rod have indicated a slight uptrend. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $480-490/mt FOB, while boron-added wire rod offers from Chinese suppliers to the same destination are at $495-505/mt FOB.
During the given week, domestic rebar and wire rod prices have indicated a rising trend, exerting positive impact on Chinese export offer prices for rebar and wire rod. However, domestic ferrous metal futures prices have seen a price correction, curbing bullish sentiment in the market. It is thought that rebar and wire rod export offer prices will likely edge down slightly in the coming week.