China’s wire rod export prices have been significantly reduced as domestic steel prices lost support in the past two weeks. On Thursday, Kallanish assessed 6.5mm diameter mesh-grade wire rod at $820/tonne fob China, down $30/t from a week earlier. Even though the futures market rebounded to its daily limit on Thursday, wire rod export offers did not rebound on Thursday. Chinese steel mills are still significantly lowering their export prices..
