China’s wire rod export offers have been showing upward movement since starting of Jul’16.
China’s wire rod export offers stand at USD 338/MT FoB main port; have increased by around USD 15/MT during previous week.
It is to be noted that long steel, including wire rod prices in China are continuously moving up since the starting of current month as domestic market supports.
Meanwhile, domestic wire rod prices in south China were assessed at around RMB 2,505/MT (USD 374/MT); up by around RMB 35/MT (USD 6) as compared to previous week. While in east China, offers have moved up by RMB 100/MT (USD 15) and stand at RMB 2,565/MT (USD 384).
However, CIS export offers fell by around USD 15/MT and stood at USD 382/MT.
Global wire rod prices in week 29 (11-17 Jul’16)
| Region | Offers in USD/MT | W-o-W |
| China export (FoB main port) | 338 | +15 |
| CIS export (FoB Black Sea) | 382 | -15 |
| South East Asia (CFR) | 348 | +18 |
Prices in USD/MT, USD 1= RMB 6.69
Source: SteelMint Research
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