Chinese wire rod export offers stood at USD 430-435/MT increased by USD 8-10/MT in a week’s time following gain in domestic market.
Meanwhile, domestic prices for 8 mm wire rod (Q235) in Shanghai were assessed at around RMB 3,480/MT (USD 505). Offers were up by RMB 80/MT (USD 11) W-o-W. While in Beijing, offers increased by RMB 40/MT (USD 6/MT) in the same duration and stood at RMB 3,380/MT (USD 490) for the same grade material.
In the similar line, other international market like CIS export offers were steady while South East Asian import offers down by USD 14/MT.
Global wire rod prices in week 03 (09-15 Jan’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 430-435 | +9 |
| CIS export (FoB Black Sea) | 440-445 | 0 |
| South East Asia (CFR) | 445-450 | -14 |
Prices in USD/MT, USD 1= RMB 6.89
Source: SteelMint Research
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