Major Vietnamese producer Formosa Ha Tinh has decided to cut further its prices for wire rod by $16/mt as compared to last month.
As a result, its offers for mesh quality wire rod for December shipment have slipped to $500/mt CFR, SteelOrbis has been informed. The price of grade 2 mesh quality mild wire rod has decreased to $482/mt CFR. Last month, the producer has cut its wire rod quotations by $14/mt.
Import wire rod has been available at $475/mt CFR in Southeast Asia recently.