Taiwan's Single Rerolling Mills Are Going to Release List Prices for Wire Rod for December

It’s reported that the Taiwanese single rerolling mills are going to release list prices for wire rod for December recently. Market participants expected that the single rerolling mills might keep wire rod list prices flat for December because of stable raw material prices and China Steel Corp. (CSC)’s unchanged prices for steel wires and bars for December, in spite of weak demand. CSC announced to leave its list prices for steel wire and bar products unchanged for December. It’s learned that the raw material prices have stabilized recently. At present, the spot iron ore prices have remained at US$135~US$136/ton. Meanwhile, the scrap prices have continued rising. Currently, the quotes of the US container HMS 80:20 (1&2) to Taiwan have increased to US$373~US$375/ton CFR. Affected by these factors, the Taiwanese single rerolling mills might remain list prices for wire rods unchanged for December.