Global wire rod export offers remain volatile approximately by USD 10/MT in a week’s duration.
Chinese Wire rod export offers saw a sharp downfall in Week 13 up to USD 10/MT and currently stood at USD 470-480/MT.
However, prices in Chinese Domestic market reported upward trend. The prices for 8 mm wire rod (Q235) were assessed at USD 569 /MT (RMB 3,920MT) up by USD 7/MT (RMB 40) in Shanghai & with a hike of USD 8/MT(RMB 50); current Beijing offers stood at USD 579/MT (RMB 4,000/MT).
The other global markets are higher supported by the uptrend in global semis & scrap value and some shortage of long steel.
According to the sources, the reduced availability of long steel in Russia supported the CIS Export Offers. Current offers are USD 470-480/MT FoB Russia with an increase by USD 10/MT, W-o-W. It is also said that the production of few mills were halted due to the disruption of raw material supplies.
In line with FoB Russia, South East Asian Countries also gained momentum by USD 10/MT with present offers at USD 490-500/MT.
Global Wire Rod Prices as on 21 Mar’17
| Region | Offers in USD/MT | W-o-W |
| China export (FoB main port) | 470-480 | -10 |
| CIS export (FoB Black Sea) | 470-480 | +10 |
| South East Asia (CFR) | 490-500 | +10 |
| India Eastern Region (Ex-works) | 455-457 | +12 |
Prices in USD/MT, USD 1= RMB 6.90
Source: SteelMint Research
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