Ex-China wire rod offer to Thailand

SteelOrbis has heard that China's Tianjin Iron & Steel has offered 5.5 mm to 6.5 mm wire rod to Thailand at $410/mt FOB Tianjin for January 2007 shipment via at sight payment by irrevocable letter of credit. According to market rumors, the Chinese government will consider another reduction in the export rebate for steel (such as rebar, wire rod, hot rolled, etc.) in the near future. As a result, some exporters are being very careful about quoting export prices.