06
Aug
13:09
Chinese wire rod export prices surge on sentiment
Declining Chinese steel inventories have triggered a surge in wire rod export offers, and some transactions were concluded this week at a higher level versus recent weeks, Kallanish notes.
With the strengthening of the Chinese steel market and soaring iron ore prices, wire rod export prices jumped to $480/tonne fob China by Wednesday, from $470-475/t fob at the start of the week. Chinese mills are now offering late-September shipments.
A trader tells Ka…
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Anonymous
Very good overview of the weekly steel market.
Anonymous