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01 Feb

ASEAN rod import market weakens ahead of holiday

Wire rod offers from the smaller Chinese mills have fallen in ASEAN, Kallanish notes. This has been mostly attributed to demand slowing down ahead of the Lunar New Year holiday, which is celebrated in China and elsewhere in ASEAN. Traders say suppliers were also withdrawing from the market. In Manila, offers for Chinese mesh-grade 6.5mm diameter SAE 1008 wire rod fell to as low as $545/tonne cfr on Thursday, compared to levels of around $565/t cfr the week before.…
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