Chinese wire rod producers have announced a further increase in export prices this week, mainly due to still favourable domestic prices and sustainable demand in the local market, while interest from abroad in Chinese wire rod has remained limited.
Offers for Chinese wire rod have increased by $10/mt compared to last week to $470-480/mt FOB, SteelOrbis has learned. Some sources said that several Chinese mills have voiced offers at even higher levels, at about $490/mt FOB, but this only means that they are not in position to sell abroad at the moment.
There have been no reports about further import price increases in the Southeast Asian market, where the latest offers for Malaysia-origin wire rod have been at $475/mt CFR Philippines.