Chinese rebar export offer prices continue to edge up

During the week ending November 16, Chinese export offer prices for rebar have increased, while wire rod export prices first moved up during the past week and then decreased and are now again at the levels of one week ago. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $385-395/mt FOB, while boron-added wire rod offers from Chinese suppliers to the same destination are at $415-425/mt FOB.
 
During the given week, domestic rebar and wire rod prices have risen, causing steelmakers and traders to increase their export offer prices. However, in recent three days, ferrous metal futures prices in China have indicated downward corrections, exerting a negative impact on export offer prices. It is thought that Chinese export offer prices for rebar and wire rod will likely soften in the coming week.