Chinese wire rod export offers stood at about USD 355-360/MT up by about USD 15/MT in a week’s time following domestic offers rise.
Domestic prices for 8 mm wire rod (Q235) in Shanghai were assessed at around RMB 2,780/MT (USD 415). Offers up by around RMB 100/MT(USD 15) W-o-W. While in Beijing, offers have moved up by RMB 30/MT (USD 5) and stood at about RMB 2,730/MT (USD 406) for the same grade material.
In the similar line, CIS export offers slightly up by USD 5/MT and stood at USD 367/MT in the same duration.
Global wire rod prices in week 42 (10-16 Oct’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 357 | +15 |
| CIS export (FoB Black Sea) | 367 | +5 |
| South East Asia (CFR) | 370 | 0 |
Prices in USD/MT, USD 1= RMB 6.72
Source: SteelMint Research
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