A Malaysian-origin deal for low carbon SAE1008 wire rod was heard done Jan. 20 before major markets closed for the Lunar New Year holidays at $635/mt on a CFR Thailand basis.

          “Chinese offers were very high due to firm domestic demand prior to the holidays, hence we import from other countries whichever can offer the most competitive price”, said a Thailand-based trader.

          Platts assessed SAE1008 6.5 mm diameter mesh-quality rod at $628/mt FOB China Jan. 18, down $2/mt from Jan. 20.

          "No bids, offers, deals for wire rods FOB China or ex-stock Shanghai basis," said a Philippines-based trading source.

          Domestic wire rod prices in Shanghai's retail market for Q195 6.5 mm wire rod remained at Yuan 4,250/mt ex-stock, including 13% value added tax, as there was no liquidity in the domestic market.

          Chinese rebar futures were little changed, the most actively traded May 2023 rebar contract on the Shanghai Futures Exchange closed at Yuan 4,179/mt ($616/mt) Jan. 20 for the afternoon session.