The contract price for 7,000 mt of
China's
Baosteel-made JIS S48C grade 13, 15 and 16 mm diameter
wire rod for export to South
Korea is at $577/mt FOB via payment by letter of credit for February-March shipment.
Baosteel has increased its S48C grade
wire rod price by RMB 300 per metric ton ($39/mt) excluding VAT in the first quarter of 2007. This product was first successfully produced in
Baosteel according to Japanese Standard just 2 years ago and to date has only been applied in a few factories in
China and South
Korea. Therefore, the price of this grade of
wire rod cannot be compared with other
wire rod grades.