Suppliers are aiming to hike wire rod export prices to ASEAN, Kallanish notes. This is on the basis of increased raw materials costs. However, poor regional steel demand continues to depress market sentiment.
Offers for Chinese mesh-grade 6.5mm diameter wire rod were prevailing on Thursday at $525-530/tonne cfr Manila, up from $525/t cfr from a week ago. “Chinese offers are cheaper but they are subject to day-to-day validity,” a Manila trader says. &l…
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