During the week ending January 27, Chinese export offer prices for rebar have indicated a stable trend, while wire rod export offer prices have declined. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $255-265/mt FOB, while boron-added wire rod offers from Chinese suppliers to the same destination are at $265-275/mt FOB.
During the given week, demand in the Chinese domestic rebar and wire rod market has shrunk, forcing traders and steelmakers to lower their export offer prices to attract more orders from the international market. However, since the Chinese government is focusing on reducing steel output capacities, sentiment in the steel market has improved. It is thought that rebar and wire rod export offer prices from China will likely move on a stable trend in the coming week.