Transaction Prices for Rimmed Wire Rods Have Remained Weak in The Taiwanese Market

It’s reported that the transaction prices for rimmed wire rods have remained weak in the Taiwanese market recently even though the supply is limited.

At present, the transaction prices for rimmed wire rods are at NT$20,700/ton in the Taiwanese market..

Industry sources said that the supply of rimmed wire rods is fewer and fewer in the Taiwanese market as downstream screw makers have increased the usage of electric furnace (EF) Al-killed wire rods.

Meanwhile, China Steel Corp. (CSC) cut its EF Al-killed wire rod list prices for June and offered low-priced wire rod promotion, making the transaction prices for EF Al-killed wire rod slump to NT$20,000/ton. However, the selling prices for rimmed wire rods still remained at NT$21,000/ton.

Although CSC has cancelled low-priced wire rod promotion, the transaction prices of EF Al-killed wire rods still stayed at NT$20,000/ton.

Affected by these factors, industry sources said that the transaction prices for rimmed wire rods might remain weak in the Taiwanese market in the near short term.