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11 May

ASEAN wire rod prices sink further

The wire rod import market continues to falter in Southeast Asia, Kallanish notes. Chinese-origin 6.5mm diameter wire rod offers for June/July shipment are prevailing at $540-545/tonne cfr Manila, down from $555-560/t cfr Manila last week. A trader reports hearing of a small-tonnage deal of some 1,000t closed on 10 May at $540/t cfr. Customers are not buying large quantities under the current market conditions, he notes. This is mostly because "China is the…
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Anna Low  |  Singapore
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