Chinese wire rod export offers stood at USD 450-455/MT increase by USD 7/MT in a week’s time following surge in domestic market.
Meanwhile, domestic prices for 8 mm wire rod (Q235) in Shanghai were assessed at around RMB 3,630/MT (USD 522). Offers are up by RMB 80/MT (USD 12) W-o-W. While in Beijing, offers have remain unchanged in the same duration and stood at RMB 3,430/MT (USD 494) for the same grade material.
In the similar line, other international market like CIS export offers rose by USD 15/MT and South East Asia import offers up by USD 30/MT in the same duration.
Global wire rod prices in week 51 (12-18 Dec’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 450-455 | +7 |
| CIS export (FoB Black Sea) | 445-450 | +15 |
| South East Asia (CFR) | 460-465 | +30 |
Prices in USD/MT, USD 1= RMB 6.95
Source:SteelMint Research
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