SleelMint’s price assessement showed futher surge In Chinese wire rod offers tor domestic by USD 18-29/MT & export after: by USD 10-15/MT In a week duration.
The fresh Chinese wire rod export offer for chromium added mesh quality are hovering at USD 560-570/MT FOB main port against last week at USD 550-555/MT.
ln spot market the offers rose by RMB 190/MT (USD 29) in East China-Shanghai With current offers at RMB 4310/MT. Further, in North China-Beijing the offers are evaluated at RMB 4,520/MT; increase by RMB 120/MT (USD 18), W-o-W.
As per the trade participants, the rise in the offers is due to the supply crunch for billet owing to closure of the substandard mills on increased pollution level.
However, CIS Exporters have maintained otters at same levels in a week ago at USD 550-560/MT. The
demand is stagnant owing to higher alter as buyers apt to wait and watch.
Meanwhile, South East Aslan import prices grew by USD 30/Mt to USD 565-570IMT against last week trade offers cl USD 535-540/MT.
India
the rod otters ln Indian domestic market also on offers end owing to strong billet offers ln the country. The domestic offers In East region – Durgapur are assessed around USD 480-485/MT (INR 30,700-31‘000) & in Central India-Raipur at USD 507-510/MT (INR 32,500-32,700). The price are ex-works, excluding at GST at 18% and tor commercial grade material.
The last export tender by RlNL (also known as Vizag Steel) has concluded around USD 520/MT FOB India for 16‘000 MT. The deal was concluded With otters up by USD 20/MT against me last tender by me same plant in July 2017.
Source Steel Mint powered by Keyvan Jafari Tehrani
