12
May
12:18
RMB devaluation prompts lower Chinese rod export prices
China's wire rod export offers are chaotic this week, and the depreciation of the RMB has provided more bargaining space for wire rod export transactions.
On Thursday, Kallanish assessed 6.5mm diameter mesh-grade wire rod at $815/tonne fob China, unchanged on-week.
Major wire rod exporting mills in northern China are still holding on to their offer prices at $815-825/t fob China, with export deals kept quiet by sluggish buying demand. However, some …
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Anonymous
Very good overview of the weekly steel market.
Anonymous