Chinese wire rod export offers remain unchanged in a week’s duration and stood at USD 445-450/MT FOB, following the price stability in the domestic market.
Meanwhile, domestic prices for 8 mm wire rod (Q235) were assessed at USD 521/MT (RMB 3,560/MT) in Shanghai & at USD 490/MT (RMB 3,380/MT) in Beijing. Offers remain unchanged in W-o-W.
The reason behind the price stability is little trade activities in the physical market on account of Chinese new year holidays.
In the similar line, other international market like CIS export offers were down by USD 23/MT, while South East Asian import offers remain firm in the same duration.
Global wire rod prices in week 05 (22-29 Jan’16)
| Region | Offers in USD/MT | W-o-W |
| China export (FoB main port) | 445-450 | 0 |
| CIS export (FoB Black Sea) | 410-420 | -23 |
| South East Asia (CFR) | 447-452 | 0 |
Prices in USD/MT, USD 1= RMB 6.85
Source: SteelMint Research
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