On February 18, Chinese steelmaker Wuhan Iron and Steel Co. (WISCO) issued its steel sales prices for March shipment. The details are as follows (all comparisons being with February prices):
Wire rod and related products
The prices of stranded wire, cold heading steel and certain high carbon wire rod (including grades SWRH72A, SWRH72B, SWRH82A, WSWRH82B and W77MnA) have increased by RMB 200/mt ($31/mt), while prices of alloy spring steel and welding steel have increased by RMB 100/mt ($15/mt). The prices of other wire rod products have increased by RMB 150/mt ($23/mt).The price of 6.5 mm diameter 45# hard drawn wire is currently standing at RMB 3,900/mt ($621/mt), while the price of 6.5 mm SWRCH22A cold heading steel is standing at RMB 3,930/mt ($625/mt).
All the above prices exclude 17 percent VAT and are effectively immediately.
$1 = RMB 6.28