The Asian wire rod market was mixed in the week to March 11, with domestic Chinese prices rising modestly, supported by higher raw material costs, while export prices remained stable amid supply constraints.

In Shanghai’s domestic market, wire rod prices rose. A local trader said that trading activity remained average, reflecting cautious sentiment among buyers despite the price uptick.

The tradable price for Q195 6.5 mm wire rods was reported at Yuan 3,250/mt ex-stock Shanghai, according to the trader.

Platts assessed prices in Shanghai’s retail market for Q195 6.5 mm wire rods at Yuan 3,250/mt ex-stock, including 13% value added tax, up Yuan 20/mt week over week.

In the export market, Chinese wire rod prices remained stable. Offers for Chinese SAE1008 6.5 mm diameter mesh-quality rod from Port Bayuquan were reported in the $495-$500/mt FOB China range, with the most competitive offers unchanged from the previous week.

A trader based in East China said FOB prices from Port Jingtang were $493/mt or lower, and noted that factories in Northeast China might be able to offer prices slightly below this level.

Platts assessed SAE1008 6.5 mm diameter mesh-quality rod at $491/mt FOB China, stable week over week.

In Southeast Asia, offers from an Indonesia-based mill for SAE1008 6.5 mm diameter mesh-quality rod were reported at $510/mt FOB Indonesia, up $15/mt from the previous week.