South Korean wire rod importers active in placing orders
2015-01-26 11:18:02 [Print]
BEIJING (Asian Metal) 26 Jan 15 - Although the domestic demand from downstream buyers is not strong, most wire rod importers in South Korea are more active in purchasing from China attracted by the low export price.
A wire rod importer in Seoul reported that the latest offer he got for boron-added wire rod SAE1008B Φ6.5mm from China is USD395/t CNF main ports in South Korea, down by USD30/t compared with that early this month.
The source said his current stock is around 5,000t, about 2,000t higher than the ideal one. However, he plans to place more orders in the near future because the current price is rather low. According to the source, many products from China are arriving at ports at present but those were purchased at around USD420/t CNF South Korea, so he believed that the local price will go down before new products with low cost arrive in late February or early March.
A wire mesh producer in Busan said he just placed an order of around 2,000t of boron-added wire rod SAE1008 Φ6.5mm from China at USD395/t CNF Busan, for shipment in February.
“Chinese suppliers also offer for the chrome-added wire rod and the price is only USD370-380/t CNF South Korea, but I dare not place orders because I am not sure about its mechanical performance for producing wire mesh,” he explained, adding that his monthly purchase volume for wire rod is 3,000t. Besides, the source said many importers are active in purchasing boron-added wire rod because the price has decreased by more than USD30/t since late last month.
A wire rod importer in Seoul reported that the latest offer he got for boron-added wire rod SAE1008B Φ6.5mm from China is USD395/t CNF main ports in South Korea, down by USD30/t compared with that early this month.
The source said his current stock is around 5,000t, about 2,000t higher than the ideal one. However, he plans to place more orders in the near future because the current price is rather low. According to the source, many products from China are arriving at ports at present but those were purchased at around USD420/t CNF South Korea, so he believed that the local price will go down before new products with low cost arrive in late February or early March.
A wire mesh producer in Busan said he just placed an order of around 2,000t of boron-added wire rod SAE1008 Φ6.5mm from China at USD395/t CNF Busan, for shipment in February.
“Chinese suppliers also offer for the chrome-added wire rod and the price is only USD370-380/t CNF South Korea, but I dare not place orders because I am not sure about its mechanical performance for producing wire mesh,” he explained, adding that his monthly purchase volume for wire rod is 3,000t. Besides, the source said many importers are active in purchasing boron-added wire rod because the price has decreased by more than USD30/t since late last month.
