During the week ending May 4, Chinese export offer prices for rebar have indicate a rising trend, while wire rod export offer prices have moved on a soft trend. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $420-430/mt FOB, while boron-added wire rod offers from Chinese suppliers to the same destination are at $425-435/mt FOB.
During the given week, since speculation in the domestic ferrous metal market has eased off, rebar and wire rod prices in the domestic market have declined, exerting a negative impact on wire rod export offer prices, while rebar export offer prices may also be impacted in the coming period. Meanwhile, following the rises previously recorded in rebar and wire rod export prices, foreign buyers are now more reluctant to conclude purchases, resulting in weaker transaction activities. It is thought that rebar and wire rod export offer prices from China will likely move sideways or edge down in the coming week.