Chinese wire rod export offers were steady during week 30, post persistent surge of USD 25-27/MT within last 3 weeks.
China’s wire rod export offers were unaltered in week 30 and stood at USD 338/MT, FoB main port.
However in last 3 week, offers were reported to gain continuously by USD 25-27/MT.
Meanwhile, domestic wire rod prices in south China were assessed at around RMB 2,580/MT (USD 386), moved up by around RMB 75/MT (USD 12) as compared to previous week. While in east China, offers have fallen by RMB 90/MT (USD 14) and stood at RMB 2,475/MT (USD 371).
On the similar lines, CIS export offers stood at USD 382/MT in the same duration.
Global wire rod prices in week 30 (18-24 Jul’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 338 | 0 |
| CIS export (FoB Black Sea) | 352 | 0 |
| South East Asia (CFR) | 348 | 0 |
Prices in USD/MT, USD 1= RMB 6.6763
Source: SteelMint Research
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