13
Aug
11:39
Exporters slash Chinese wire rod, HRC offers
Chinese offers for finished steel in ASEAN are once again falling rapidly, Kallanish notes. Some traders see these low-priced offers as the revival of the export of Chinese steel without full VAT payment. However, others say the offers are from traders shorting the market.
Low-priced quotes for mesh-grade 6.5mm and up diameter wire rod are at $490/t cfr Manila and below, and at $480/t cfr Vietnam. These are $10-20/t lower than the end of last week.
“Non-VAT…
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Anonymous
Very good overview of the weekly steel market.
Anonymous