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07 Dec

Stronger CNY supports Chinese wire rod export prices

China's wire rod export prices soared this week, as a stronger CNY exchange rate and rising steel market sentiment spurred steel mills to raise their offers. Kallanish assessed 6.5mm diameter mesh-grade wire rod at $585/tonne fob China, up $15/t from the week before. Major alloy-added wire rod exporters in eastern China offered January shipment at $585/t fob China, and another northern China steel mill is providing wire rod at $590/t fob. "The curre…
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