The wire rod import market in Southeast Asia appears to have found some support, with suppliers no longer lowering offers, Kallanish notes. The market has been lacklustre and prices were slipping for the past two months.
Chinese-origin 6.5mm diameter wire rod offers for July shipment are prevailing at $545-550/tonne cfr Manila, up from $555-560/t cfr Manila last week. A trader reports hearing of a small-tonnage deal of some 2,000 tonnes closed earlier this week at…
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