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08 Feb

ASEAN wire rod import market enters holiday lull

The import market for wire rod was stagnant in ASEAN on the approach of the Lunar New Year, Kallanish notes. Many market participants have taken leave in preparation for the holiday to celebrate the New Year. In Manila, offers for Chinese mesh-grade 6.5mm diameter SAE 1008 wire rod are unchanged from last week at around $550/tonne cfr. Several orders previously took place at around $545/t cfr Manila last week. These are lower-priced because they are believed to be…
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