Major Vietnamese producer Formosa Ha Tinh has announced another round of wire rod price increases. Its quotations of wire rod for March delivery have added $8/mt from last month, reaching $500/mt CFR for grade 2 mesh quality mild wire rod and $518/mt CFR for mesh quality wire rod.
In December, Formosa Ha Tinh had increased its wire rod prices by $8/mt.
Though there have been some price declines seen during the past month in the Asian wire rod market, Chinese mills have announced higher prices recently, increasing them by about $15/mt on average this week to $475-485/mt FOB, with most suppliers insisting on prices at the higher end of the range.