UAE-based wire rod buyers maintain wait-and-see approach

Monday, 23 February 2015 18:00:02 (GMT+3)   |   Istanbul
       

Local producers' offers in the UAE wire rod market are in the range of $460-485/mt ex-works this week, while the offers differ depending on buyers and order sizes. Market sources state that Chinese buyers are out of the market due to the Chinese New Year and no new offers have been given from China to the UAE market, while ex-China wire rod prices are expected to become clear after the holiday. Additionally, Chinese offers to the UAE market are expected to remain attractive compared to local wire rod offers, causing UAE-based buyers to maintain a wait-and-see approach for now. Some UAE-based buyers are still suspicious of the quality of Chinese chrome-added wire rods, while other buyers are continuing their purchases from China as the quality of previously purchased chrome-added products satisfied their requirements.  


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