12
May
11:15
ASEAN wire rod market tumbles
The ASEAN wire rod import market has tumbled on lower-priced offers for Chinese-origin material, Kallanish notes.
Several traders are giving offers for June/July shipment of Tangshan 6.5mm SAE 1008 wire rod at as low as $760/tonne cfr Manila. Some of these quotes are from speculative traders who are short-selling. Offers for Chinese SAE 1008 wire rod were at $830/t cfr Manila last week.
The weak yuan is enabling these traders to export at lowe…
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Anonymous
Very good overview of the weekly steel market.
Anonymous