Ex-CIS wire rod prices start to increase

SteelOrbis has heard from market insiders that ex-CIS wire rod offers have increased at the start of March amid better demand, after the previous long-term stable trend of prices against a background of weak demand. Accordingly, mills in the CIS are now offering mesh quality wire rod to the export markets at the price level of $600-610/mt FOB Black Sea on actual weight basis, indicating an increase of $10/mt since last week, while market sources believe that prices will hit the level of $620/mt FOB in the coming period.
 
Meanwhile, ex-CIS mesh quality wire rod offers for the Mediterranean region at $610/mt FOB for March shipments have been attracting attention and some deals have been concluded at this price level in the region.