During the week ending October 19, Chinese export offer prices for rebar have edged up slightly, while wire rod export offer prices have moved sideways. 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 from Chinese suppliers to the same destination are at $360-370/mt FOB.
During the given week, the rising trend of domestic rebar and wire rod prices has provided support for export offer prices. Since ferrous metal futures prices in China have continued their upward movement, bullish sentiment prevails in the Chinese domestic finished steel market. It is thought that Chinese export offer prices for rebar and wire rod will move sideways in the coming week.