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Southeast Asian import markets for rebar and wire rod are seeing a surge in offer prices, Kallanish notes. Buyers are generally shunning these offers because the price jump is too large and sudden. Steel demand is weak in the region because of tight credit, high interest rates and inflationary pressures. Chinese- and ASEAN-origin 6.5mm low-carbon wire rod offers from traders have gone up to $580-590/tonne cfr Philippines, from $550-555/t last week. Traders ar…
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Anna Low Singapore
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