Despite some improvement in import wire rod prices recently, major Vietnamese producer Formosa Ha Tinh has decided to keep its wire rod prices for January delivery unchanged from last month. Offers for mesh quality wire rod are at $500/mt CFR, while the price of grade 2 mesh quality mild wire rod is $482/mt CFR, SteelOrbis has learned.
Offer prices for ex-China wire rod from mills have increased by $10/mt this week to $460-470/mt FOB. However, there is still cheaper wire rod available in the market. Though ex-Malaysia wire rod quotations have also increased, rising to $465-470/mt CFR in Southeast Asia, they are still $5-10/mt below the offer levels of a month ago.