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Traders are taking a leading role in the falling ASEAN wire rod import market, Kallanish notes. They are driving the market lower by shorting. Mills are less active in giving offers because current prices are deemed too low. Offer prices for wire rod into the Philippines are tumbling down quickly. Certain traders are giving offers for 6.5mm diameter blast furnace SAE 1008 wire rod from China for August shipment at $655-660/tonne cfr Manila. Thi…
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Anna Low Singapore
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