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22 Feb

ASEAN wire rod markets soften on China weakness

ASEAN wire rod import markets are soft this week, depressed by the weakness in China’s domestic market, Kallanish notes. In Manila, offers for Chinese mesh-grade 6.5mm diameter SAE 1008 wire rod are at around $550/tonne cfr. Offers were firm when China reopened post holiday and were at around $555/t cfr Manila on 19 February, but slipped the day after when Chinese futures started to tank. Chinese SAE 1008/Q195 6.5/8/10mm wire rod is currently offered at $5…
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