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20 Jul

Chinese rod export prices gain on currency appreciation

Chinese wire rod export prices were lifted by the appreciation of the RMB, even though export transactions remained weak. Kallanish assessed 6.5mm diameter mesh-grade wire rod at $540-545/tonne fob China, up $10/t from last week. Offers of alloy-added wire rod from large northern Chinese steel mills are at $540-550/t fob China, an increase of $10-15/t compared to last week. However, this price has dropped by about $5/t from the beginning of the week, because…
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