Chinese wire rod export offers stood at USD 420-425/MT and it increased by USD 13/MT in a week’s time. Finished steel prices continue to move up on account of rise in raw material prices.
Meanwhile, domestic prices for 8 mm wire rod (Q235) in Shanghai were assessed at around RMB 3,440/MT (USD 502). Offers were up by RMB 100/MT (USD 15) W-o-W. Also in Beijing, offers were up by RMB 30/MT(USD 5) and stood at RMB 3,060/MT (USD 447) for the same grade material.
While, other international market like CIS export offers was steady at USD 395-400/MT and South East Asia import offers were at USD 420-425/MT.
Global wire rod prices in week 48 (28 Nov-04 Dec’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 420-425 | +13 |
| CIS export (FoB Black Sea) | 395-400 | 0 |
| South East Asia (CFR) | 420-425 | -1 |
Prices in USD/MT, USD 1= RMB 6.88
Source: SteelMint Research
Leave a Reply