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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