Chinese wire rod export price moves up
2012-09-20 08:56:50 [Print]
BEIJING (Asian Metal) 20 Sep 12 - Most wire rod exporters in China raise quotations at present encouraged by the sharp price increase in the domestic market. Current export price of wire rod SAE1008 Φ6.5-10mm (boron added) is USD525-545/t FOB China. Observers predict that the price will be firm in a short term.
A steel exporter in Guangzhou, Guangdong Province reported that he just lifted the quotation for wire rod SAE1008 Φ6.5-10mm (boron added) by USD20/t to USD540/t FOB Guangzhou Port, because of the bullish domestic market price.
“The price of wire rod in China kept moving up from last week and the markup has been over RMB300/t, and the current price in Guangzhou is around RMB3,900/t,” said the source, adding that the export price markup is not so matched. After the price was lifted, the source said overseas customers have not given response yet but he thought the quotation will be firm in following several weeks, because the price has been low for quite a long time and it will take some time for buyers to accept the higher price. The source has taken 20,000-30,000t of orders for September and October delivery, so he is not worried about the market now.
Another steel exporter in Hangzhou, Zhejiang Province confirmed that the export price of wire rod moves up driven by the active domestic market performance. His quotation for wire rod SAE1008 Φ6.5-10mm (boron added) is USD525/t FOB Lianyun Port, up by USD10/t compared with that of last week.
“The domestic market is crazy and the price is skyrocketing day by day, making it difficult to give export quotation,” said the source. His offer was once as low as USD480/t FOB China last month, and the sharp markup makes overseas customers hesitating to place order. The source is a little worried about the coming market, deeming that without the strong demand from buyers, the price in domestic market may move down and the export price is hard to continue increasing. He has not taken any orders after he lifted the quotation while the regular sales volume in peak season is over 5,000tpm.
A steel exporter in Guangzhou, Guangdong Province reported that he just lifted the quotation for wire rod SAE1008 Φ6.5-10mm (boron added) by USD20/t to USD540/t FOB Guangzhou Port, because of the bullish domestic market price.
“The price of wire rod in China kept moving up from last week and the markup has been over RMB300/t, and the current price in Guangzhou is around RMB3,900/t,” said the source, adding that the export price markup is not so matched. After the price was lifted, the source said overseas customers have not given response yet but he thought the quotation will be firm in following several weeks, because the price has been low for quite a long time and it will take some time for buyers to accept the higher price. The source has taken 20,000-30,000t of orders for September and October delivery, so he is not worried about the market now.
Another steel exporter in Hangzhou, Zhejiang Province confirmed that the export price of wire rod moves up driven by the active domestic market performance. His quotation for wire rod SAE1008 Φ6.5-10mm (boron added) is USD525/t FOB Lianyun Port, up by USD10/t compared with that of last week.
“The domestic market is crazy and the price is skyrocketing day by day, making it difficult to give export quotation,” said the source. His offer was once as low as USD480/t FOB China last month, and the sharp markup makes overseas customers hesitating to place order. The source is a little worried about the coming market, deeming that without the strong demand from buyers, the price in domestic market may move down and the export price is hard to continue increasing. He has not taken any orders after he lifted the quotation while the regular sales volume in peak season is over 5,000tpm.
