Southeast Asian buyers have been interested in purchases of wire rod from South Korea, taking into account discounts. Last week, one of the dealing trading firms in South Korea managed to sell about 80,000 mt of wire rod to Thailand and the Philippines at $445/mt CFR or slightly below, a number of sources confirmed to SteelOrbis. The deal price was discounted from the initial offers of $445-450/mt CFR.
A supplier from Saudi Arabia has been offering at $450/mt CFR and some tonnages are rumoured to have been sold to Southeast Asia, but the tradable value was $5-10/mt below this level, sources said.
Offers from most regional suppliers of wire rod to Southeast Asian importers have been above $450/mt CFR. For instance, ex-Malaysia and ex-Indonesia wire rod have been offered at $450-455/mt CFR.
