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16 Mar

ASEAN longs market stagnates

The ASEAN import market for wire rod and rebar is sluggish amid a high-interest rate environment and uncertainties over a possible spill-over effect of the global banking crisis onto the region, Kallanish notes. Smaller parcels of China-origin low-carbon 6.5mm diameter non-alloy wire rod from Tangshan are being offered at $630-635/tonne cfr Manila, up $5 from last week. A 1,000-tonne cargo was heard booked at $630/t cfr on Wednesday, a Manila trader reports. Chine…
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