29
Sep
14:49
Currency devaluation boosts Chinese rod export activity
China's wire rod export market has been revived due to the continuous depreciation of the yuan against the dollar. The market seems to have stepped into the most active period of deals so far this year.
On Thursday, Kallanish assessed 6.5mm diameter mesh-grade wire rod at $550-560/tonne fob China, down $12.5/t week-on-week.
The CNY/USD exchange rate broke through 7.2 briefly this week, which directly led to the reduction of effective offer prices&nb…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous