Thai wire rod price moves up
2013-10-16 09:13:17 [Print]
BEIJING (Asian Metal) 16 Oct 13 - The price of wire rod in Thailand increases again supported by stronger demand and mills’ higher production cost. The current price of low carbon wire rod JIS SWRM15 Φ5.5mm from local mills is THB19,500-20,000/t (USD624-640/t, VAT excluded). Insiders predict that the price will be firm in following days of this week.
A low carbon wire rod purchaser in Bangkok said the current price of wire rod JIS SWRM15 Φ5.5mm from local mills is THB20,000/t (USD640/t, VAT excluded), unchanged compared with that of last week, but up by THB400/t over that late last month.
The source said because Thailand imposes anti-dumping tax on Chinese high carbon wire rod and it is as high as 16-33%, local steel mills are active in raising ex-works prices of both low carbon and high carbon wire rod. Meanwhile, he said the demand from buyers shows an increasing trend as the rainy season is over. His monthly purchasing volume of wire rod increases to around 2,000t from 1,500t in the slow season.
Another low carbon wire rod trader in Bangkok said that the current price of JIS SWRM15 Φ5.5mm from local mills is THB19,800/t (USD634/t, VAT excluded), THB300/t higher than that of two weeks ago.
He said some steel mills in Thailand purchased a large batch of high-cost steel scrap and that drives local steel prices up. “The local billet price also increases to USD540/t ex-works, much higher than the international price of USD525-535/t CIF Thailand,” he said. Therefore, prices of finished steel like wire rod and rebar all move up. He deemed the price will remain firm in a short term.
A low carbon wire rod purchaser in Bangkok said the current price of wire rod JIS SWRM15 Φ5.5mm from local mills is THB20,000/t (USD640/t, VAT excluded), unchanged compared with that of last week, but up by THB400/t over that late last month.
The source said because Thailand imposes anti-dumping tax on Chinese high carbon wire rod and it is as high as 16-33%, local steel mills are active in raising ex-works prices of both low carbon and high carbon wire rod. Meanwhile, he said the demand from buyers shows an increasing trend as the rainy season is over. His monthly purchasing volume of wire rod increases to around 2,000t from 1,500t in the slow season.
Another low carbon wire rod trader in Bangkok said that the current price of JIS SWRM15 Φ5.5mm from local mills is THB19,800/t (USD634/t, VAT excluded), THB300/t higher than that of two weeks ago.
He said some steel mills in Thailand purchased a large batch of high-cost steel scrap and that drives local steel prices up. “The local billet price also increases to USD540/t ex-works, much higher than the international price of USD525-535/t CIF Thailand,” he said. Therefore, prices of finished steel like wire rod and rebar all move up. He deemed the price will remain firm in a short term.
