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23 Jun

China's wire rod export market continues to deteriorate

The Chinese steel market has tumbled this week, and this has also pushed export prices to new lows not seen in 16 months. On Thursday, Kallanish assessed 6.5mm diameter mesh-grade wire rod at $680/tonne fob China, down $50/t on-week. In a panicked and chaotic market, traders are eagerly seeking customers but end buyers are cautious. A steel mill source in eastern China says the lower domestic prices have led to an increase in wire rod purchases by Japanese a…
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