South Korean wire rod importers watching the market

BEIJING (Asian Metal) 28 Aug 15 - The wire rod import price in South Korea continues to fall at the moment, but importers prefer to watch the market in short term rather than place orders actively. The price of chrome-added wire rod SAE1008B Φ6.5mm is USD325-330/t CNF South Korea.Asian Metal Copyright1% growth for the economy in 2015, but it was lowered to 2.Asian Metal Copyright Insiders deem the wire rod import market will continue to run slowly in the near future.

An importer in Seoul reported that the latest offer for chrome-added wire rod SAE1008B Φ6.5mm from Jiujiang Steel in China is of USD327/t CNF Seoul, down by USD19/t compared with that in the previous week.

The source reveals that he did not place an order in August, while his order in July was 500 tons. However, the source states that his import volume of wire rod was around 3,000 tons per month in Q2 of this year.Asian Metal Copyright On August 12, it has reached the lowest level in recent four years.Asian Metal Copyright He reveals that the demand from local market shrank fast in past two months.Asian Metal Copyright8% in July,” he says, showing little optimism for the outlook of the wire rod market.Asian Metal Copyright In addition, KRW continued to weaken in past days.Asian Metal Copyright He prefers to hold a cautious attitude towards the coming market.Asian Metal Copyright On August 12, it has reached the lowest level in recent four years.Asian Metal Copyright .Asian Metal Copyright The source states that it is at a disadvantage for import business at the moment.Asian Metal Copyright On August 12, it has reached the lowest level in recent four years.Asian Metal Copyright He will continue to watch the market in the coming month.

An importer in Busan said, the latest offer for chrome-added wire rod SAE1008B Φ6.5mm from steel mills in Tangshan, China is USD325/t CNF Busan, down by USD25/t compared with that of two weeks ago.

According to the source, the economy in South Korea develops slowly at the moment and influenced by this, the wire rod market performs inactively. “The central bank ever predicted a 3.Asian Metal CopyrightBEIJING Asian Metal 28 Aug 15 - The wire rod import price in South Korea continues to fall at the moment, but importers prefer to watch the market in short term rather than place orders actively.Asian Metal Copyright1% growth for the economy in 2015, but it was lowered to 2.Asian Metal Copyright On August 12, it has reached the lowest level in recent four years.Asian Metal Copyright8% in July,” he says, showing little optimism for the outlook of the wire rod market.Asian Metal Copyright The source reveals that he did not place an order in August, while his order in July was 500 tons.Asian Metal Copyright The source reveals that his import volume was around 5,000 tons in July, while it was only 2,000 tons in August.Asian Metal Copyright Insiders deem the wire rod import market will continue to run slowly in the near future.Asian Metal Copyright He prefers to hold a cautious attitude towards the coming market.