Chinese wire rod offer to Europe

For export to Europe, China origin SAE1008 grade 5.5 mm wire rods have been offered at $455-460/mt, while 6.5 mm wire rods have been offered at $445-450/mt FOB ST China Main Ports on actual weight basis via at sight payment by letter of credit for shipment in the beginning of April. SteelOrbis has been informed that China origin wire rod offer prices have increased $10-15/mt compared with two weeks ago. With the demand for billet getting stronger in Southeast Asia, quotations for wire rods have accordingly also been on the rise. It seems that end-users will finally have to bear such costs.