Chinese wire rod export offers rose again by USD 5/MT in week 31.
China’s wire rod export offers have surged by USD 5/MT in the current week as compared to previous week and stood at USD 343/MT, FoB main port.
Meanwhile, domestic prices for 8 mm wire rod (Q235) in Beijing were assessed at around RMB 2,600/MT (USD 390). Offers remain unchanged in the last one week. While in shanghai, offers have moved up by RMB 80/MT (USD 12) and stood at RMB 2,520/MT (USD 378) for the same grade material.
On the similar lines, CIS export offers stood at USD 352/MT in the same duration; remain unchanged.
Indian market
In Indian wire rod market, large producers like SAIL, RINL, Tata Steel, JSPL and JSW Steel hold the major shares in terms of production than others & mini producers, as per the monthly data reported by JPC- Ministry of Steel.
RINL is the sole producer of long product based in Visakhapatnam and produced about 147,000 MT wire rod during Apr-Jun’16 highest among all large producers, as per JPC data.
A leading wire rod producer is offering material at around INR 31,500/MT FoR (including excise duty, CST and freight); landed cost to Punjab.
Global wire rod prices in week 31 (25-31 Jul’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 343 | +5 |
| CIS export (FoB Black Sea) | 352 | 0 |
| South East Asia (CFR) | 348 | 0 |
Prices in USD/MT, USD 1= RMB 6.6511
Source: SteelMint Research
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