Market sources report that Chinese offers to Oman for 6.5 mm wire rod have increased by $15/mt over the past two weeks to $570/mt CFR. According to market players, after the holiday the expected recovery has started to appear in the market and upticks in scrap prices have been reflected in wire rod offers, while demand will likely continue to see further improvement in Oman.
Meanwhile, steel mesh prices in the local Omani market stand at $650/mt delivered.