Chinese wire rod export offers stood USD 445-450/MT and it increased by USD 23/MT in a week’s time. Finished steel prices including wire rod has sharply moving up on account of rising domestic prices.
Meanwhile, domestic prices for 8 mm wire rod (Q235) in Shanghai were assessed at around RMB 3,750/MT (USD 544). Offers were up RMB 310/MT (USD 45) W-o-W. Also in Beijing, offers were up RMB 400/MT (USD 72) and at RMB 3,460/MT (USD 447) for the same grade material.
While, other international market like CIS export offers was steady at USD 430-435/MT and South East Asia import offers were at USD 420-425/MT.
Global wire rod prices in week 50 (05-11 Dec’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 445-450 | +23 |
| CIS export (FoB Black Sea) | 430-435 | 0 |
| South East Asia (CFR) | 420-425 | +6 |
Prices in USD/MT, USD 1= RMB 6.89
Source: SteelMint Research
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