Quintain Steel, Taiwanese carbon steel wire rod mill, has increased its price of galvanized iron wire by around US$17/ton in order to reflect the cost up on steel scarp although the company released the list price of wire rod unchanged for December. For the HMS 80:20 (1&2) scrap, the quotation to Taiwan has reached around US$373/ton CFR, up by over US$20/ton from the end of September. That has influenced the local price of galvanized iron wire hikes to about US$765/ton. However, the market price should be lower to around US$750/ton. Market insiders also point out if the scrap price keeps soaring; they believe the market price of galvanized iron wire will further go up.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67411&division=A4
