China’s wire rod export offers steady but CIS export offers down by USD 8/MT.
China’s wire rod export offers stood at USD 310/MT FoB main port; have reported no price change in the previous week.
Meanwhile, domestic average prices for 8 mm HPB 300 high speed wire rod were assessed at around RMB 2,367/MT (USD 360); fell by around RMB 13/MT (USD 2/MT) as compared to previous week.
In the same period, CIS export offers fell by around USD 8/MT and stood at USD 390/MT.
It is also to be noted that MIP imposed by the government on bar and rod, including wire rod in early Feb’16 for six months under chapter/HS code 7213, 7214 and 7227 and in the range of USD 449-455/MT, is going to expire in Aug’16.
Global wire rod prices in week 26 (20-26 Jun’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 310 | 0 |
| CIS export (FoB Black Sea) | 382 | -8 |
| South East Asia (CFR) | 309 | -9 |
Prices in USD/MT
Source: SteelMint Research
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