Asian steel wire prices yesterday stable compared to the previous week. Despite slow purchasing power, Chinese exporters did not lower prices because of rising domestic prices. Platts wire mesh price increased by 6.5mm to 4 USD / ton compared to the previous week, reaching 425 USD / ton FOB.
In Shanghai market, spot price of 6.5mm Q195 steel wire at 3,550 yuan / ton (515 USD / ton) was taxed, up 190 yuan / ton from the previous week. Prices increased sharply due to ex-factory price increase ex-works and supported by the term of price increases.
On the SHFE yesterday, the October contract for rebar was closed at 3,110 yuan / ton, up 111 yuan / ton, equivalent to 3.7% compared to the third.
Major exporters offer 6.5mm Q195 wire at USD 430-440 / ton FOB, slightly higher than the domestic price due to low orders. However, a large factory stopped supplying because the market price increased rapidly.
Besides, there was another factory stopped supplying, but due to receiving enough orders. Expected transaction price is 430 USD / ton FOB. Another trader said that buyers are mainly domestic customers for short selling.
Incentives from abroad decreased after the unstable market trend. Bidding price is 410-420 USD / ton FOB. Most factories agree that no one will pay unless they want to short sell. However, traders will not accept the risk of short selling in the context of unclear market.
The Hebei Wire Mill of Hebei raised the listed price of steel wire weekly by 100 yuan / ton (7 USD / ton), reaching an export tax of 3,200 yuan / ton.
Nguồn tin: Satthep.net
