Chinese wire rod export offers stood at USD 425-430/MT decreased by USD 20/MT in a week’s time after continuous increase in prices.
Meanwhile, domestic prices for 8 mm wire rod (Q235) in Shanghai were assessed at around RMB 3,480/MT (USD 502). Offers were marginallly down by RMB 10/MT (USD 2) W-o-W. While in Beijing, offers fell by RMB 60/MT (USD 7/MT) in the same duration and stood at RMB 3,340/MT (USD 483) for the same grade material.
In the similar line, other international market like CIS export offers and South East Asia import offers were steady in the same duration.
Global wire rod prices in week 02 (02-08 Jan’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 425-430 | -20 |
| CIS export (FoB Black Sea) | 440-445 | 0 |
| South East Asia (CFR) | 445-450 | 0 |
Prices in USD/MT, USD 1= RMB 6.92
Source: SteelMint Research
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