Taiwan's wire rod imports dropped in January

BEIJING (Scrap Monster):  According to latest government statistics, Taiwan’s wire rod imports declined considerably during the month of January this year. The average import prices declined during the month.

The country’s wire rod imports totaled 23,192 tons during the month, 10.7% lower when compared with the previous month. The Taiwanese wire rod imports during Dec ’14 had totaled 25,971 tons. However, the import prices averaged at NT$17,600 per ton. The import prices were down by NT$336 per ton when compared with the average price of NT$17,936 per ton during December last year.

On the other hand, the wire rod exports by Taiwan increased significantly during the month of January this year. The total exports of wire rod amounted to 18,777 tons during the month, surging 16.3% from the previous month. The country’s wire rod exports had totaled 16,145 tons during Dec ’14. The export prices averaged at NT$22,254 per ton. The import prices climbed slightly higher by NT$37 per ton when compared with the average price of NT$22,217 per ton during Dec ‘14.

According to industry sources, buyers in Saudi Arabia are reportedly showing increased interest in Chinese carbon wire rod due to their competitive prices. The export price of these products from China quoted at around $390 to $410 per ton CFR, significantly lower when compared with the existing Saudi Arabian market price of nearly $500 per ton.