The ASEAN import market for wire rods seems to have stabilized this week. The market is being supported by the increasing futures market in China. Additionally, there is market talk that China Customs has detained a significant volume of steel exports at Tangshan port for VAT payment compliance checks, effectively removing low-priced Chinese offers from the market.
An Indonesian mill has reportedly increased its export prices for low-carbon 6.5mm diameter wire rod to USD 505 per tonne FOB, up from USD 500 per tonne FOB. The mill's current offer to Thailand stands at USD 530 per tonne CFR, while bids are reaching only up to USD 520 per tonne CFR. A trader in Bangkok said no deals had been made so far. Additionally, the mill is offering SAE 1008 wire rod at USD 537 per tonne for delivery to Ho Chi Minh City for mid-September shipment, aiming for an end-August shipment.
Furthermore, the same Indonesian mill has successfully secured sales of 3sp 150mm billet to the domestic market at USD 482 per tonne FOB as of July 3, an increase from the USD 480 per tonne FOB concluded last week and earlier this week.
Comments
No comment yet.