Chinese rebar and wire rod export prices remain stable

During the week ending April 10, Chinese export offer prices for rebar and wire rod have moved sideways. At present, rebar export offers given by Chinese suppliers are at $510-520mt FOB, while wire rod offers are at $540-550/mt FOB.

During the given week, since demand has improved, inventories of Chinese rebar and wire rod have decreased. At the same time, ferrous metal futures prices in China have moved up sharply, bolstering rebar and wire rod prices. However, following the lifting of production restrictions in northern China, supply of rebar and wire rod has increased. Buyers from overseas markets have been maintaining a wait-and-see stance, resulting in slack export activity. It is thought that rebar and wire rod export prices from China will likely move on a soft trend in the coming week.