Chinese wire rod export offers again registered a fall of USD 5/MT in week 18, with current offers gauged at USD 410-415/MT, FoB Main Port.
Even though fall in export offers; the spot markets showed some improvement after continuous fall.
The prices for 8 mm wire rod (Q235) are assessed at USD 501/MT (RMB 3,450/MT) in Shanghai marginally up by USD 3/MT (RMB 20) & in the Beijing offers stood at USD 539/MT (RMB 3,710/MT) with an increase of USD 10/MT (RMB 70), W-o-W.
CIS Export Offers: Buying activity in the CIS long steel export market continued to be sluggish over the past week amid buyers anticipation about prices fall owing to downtrend in China.
Despite sluggish trades, the offers for CIS export are unaltered at USD 435-445/MT FoB Black Sea.
UAE Imports slipped by USD 10/Mt in week 18 with current offers gauged at USD 415-425/MT.
Global Wire Rod Offers as on 25 Apr’17 (Week 18)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) |
410-415 |
-5 |
| CIS export (FoB Black Sea) |
435-445 |
0 |
| South East Asia (CFR) |
415-425 |
-10 |
Prices in USD/MT, USD 1= RMB 6.88
Source: SteelMint Research
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