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14 Sep

ASEAN wire rod market moves without clear direction

The wire rod import market in ASEAN is still sluggish, Kallanish notes. Buyers are not keen to book in an uncertain market where domestic demand is weak. Offers for Chinese mesh-grade 6.5mm diameter wire rod were prevailing at $525/tonne cfr Manila on Thursday. These low-priced Chinese offers are generally believed to be cargoes shipped out from China without the full VAT payment.  Offers have been fluctuating within a $5-10/t band in recent weeks. No recent…
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