Pressure on Chinese wire rod exporters increases, but prices so far stable

摘要

Export prices for Chinese wire rod have been staying virtually flat since late April, but the pressure upon suppliers has increased: quotes of import raw material and local semis continue dropping. Besides, demand in key markets leaves much more to be desired. Chinese traders are reporting increased pressure upon Asian buyers: while week ago the bids were coming at $485/t FOB, now most buyers from Southeast Asia are insisting on $480/t FOB.