Major Vietnamese producer Formosa Ha Tinh has increased its wire rod prices for February delivery by $10/mt from last month, following the uptrend in the Asian wire rod market. Offers for mesh quality wire rod are at $510/mt CFR, while the price of grade 2 mesh quality mild wire rod is $492/mt CFR, SteelOrbis has learned.
As reported previously, last month Formosa Ha Tinh decided not to change its wire rod prices for January delivery.
Offer prices for ex-China wire rod from mills have added $10/mt over the past month to $470-480/mt FOB, while ex-Malaysia wire rod quotations have also increased to $475-480/mt CFR in Southeast Asia.