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20 Apr

ASEAN longs importers stay on sidelines

The import market for long products into Southeast Asia remains lacklustre. Regional importers are not active because market sentiment is negative and they are waiting for price stability, Kallanish notes. Offers for small, residual lots of Tangshan 6.5mm diameter wire rod are at around $585/tonne cfr Manila, a Manila trader reports. The $5/t week-on-week rise is more likely due to “a slight increase in Chinese futures earlier this week, though I suspect pr…
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Anna Low  |  Singapore
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