Major Vietnamese producer Formosa Ha Tinh has announced its new offer prices for wire rod for January delivery, increasing its prices by $20/mt compared to the previous month, much larger than the $5/mt increase in October.
Formosa Ha Tinh is offering its grade 2 mesh quality mild wire rod at $545/mt CFR, while its mesh quality wire rod is available at $555/mt CFR, according to market reports. To foreign buyers, offers for wire rod from Formosa Ha Tinh are at $540/mt FOB. Steady demand and rising prices from Chinese wire rod exporters have contributed to the latest price hike announced by Formosa.
The company has not announced its new billet prices for the market yet.
