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27 Apr

ASEAN wire rod market stabilises after early-week plunge

Import prices for wire rod in Southeast Asia have stabilised from early this week, Kallanish notes. Suppliers and exporters have kept offers steady after the sharp price drop in the Chinese steel futures market on Monday. Chinese-origin 6.5mm diameter wire rod offers are prevailing at $550-560/tonne cfr Manila, roughly similar to $550-555/t cfr seen on Tuesday. A Manila trader reports hearing a small cargo of 1,000 tonnes for June shipment booked at $555/t cfr ear…
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Anna Low  |  Singapore
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