SAE 1008 wire rod in the ASEAN market has been quiet due to the absence of Chinese suppliers during the Golden Week holiday. This led to significant price increases in wire rod offers in the region.
An Indonesian producer raised its offer for 6.5mm diameter wire rod for January shipments to Vietnam to USD 535 per ton from last week's range of USD 498-502 per ton. According to Jakarta sources, the mill sold its wire rod at USD 500 per ton FOB earlier this week, an increase of USD 22 compared to the price on September 25.
Chinese mills did not make any offers for wire rod during the week, with traders choosing to hold off on transactions in anticipation of higher prices after the holiday. It is expected that market activity will resume once the Golden Week ends.
In Thailand, wire rod offers were also unavailable, with traders anticipating the market to pick up again after the holiday period. Reports suggest that there has been no news or offers for wire rod in the country throughout the week.
Current assessments for SAE 1008 6.5 mm diameter wire rod in Manila are at USD 510-515 CFR per ton, marking a USD 25 increase compared to the previous week.
Meanwhile, a leading Vietnamese producer is offering wire rod at USD 530 FOB per ton, while rebar is priced at USD 535 per ton FOB. These offers are base prices for November shipments.
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