Chinese wire rod export offers stood at about USD 395-400/MT and it fell by USD 15/MT in a week’s time after constant surge in prices.
Meanwhile, domestic prices for 8 mm wire rod (Q235) in Shanghai were assessed at around RMB 2,960/MT (USD 430). Offers were down by RMB 150/MT (USD 22) W-o-W. While in Beijing, offers have also come down by RMB 40/MT(USD 6) in the same duration and stood at RMB 3,000/MT (USD 467) for the same grade material.
As per the market participants, generally steel demand in China is slow down during winter season which will be last till February.
However, other international market like CIS export offers continue to move up by USD 17/MT and South East Asia import offers also up by USD 10/MT in the same duration.
Global wire rod prices in week 47 (14-20 Nov’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 395-400 | -15 |
| CIS export (FoB Black Sea) | 420-425 | +17 |
| South East Asia (CFR) | 415-420 | +10 |
Prices in USD/MT, USD 1= RMB 6.87
Source: SteelMint Research
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