Chinese wire rod export offers stood at USD 410-415/MT and it increased by USD 13/MT in a week’s time.
Meanwhile, domestic prices for 8 mm wire rod (Q235) in Shanghai were assessed at around RMB 3,340/MT (USD 485). Offers were up by RMB 350/MT (USD 50) W-o-W. Also in Beijing, offers were up by RMB 30/MT(USD 5) and stood at RMB 3,030/MT (USD 440) for the same grade material.
However, other international market like CIS export offers fell by USD 25/MT. While South East Asia import offers were up by USD 10/MT.
Global wire rod prices in week 48 (21-27 Nov’16)
|
Region |
Offers in USD/MT |
W-o-W |
| China export (FoB main port) | 410-415 | +13 |
| CIS export (FoB Black Sea) | 395-410 | -25 |
| South East Asia (CFR) | 425-430 | +10 |
Prices in USD/MT, USD 1= RMB 6.88
Source: SteelMint Research
Leave a Reply