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20 Jun

ASEAN wire rod market nudges lower

The ASEAN import market for wire rod slipped over the past week, Kallanish notes. Exporters are lowering offers amid a sluggish market. In Manila, suppliers are quoting Chinese 6.5mm base 1008 wire rod for August shipment at $525-530/tonne cfr, down from last week's $530/t cfr. “Prices are struggling,” a Manila trader says. While deals will still happen, “customers know that it is a buyers’ market so they will take their own sweet time …
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