Chinese Baosteel has released its price of wire rod for November. The base price of high-carbon steel material has dropped by RMB150/ton, as well as the price for part of low carbon steel kept unchanged. Moreover, Jiangsu Shagang Group Co., Ltd also cut its selling price of wire rod for October by RMB30~50/ton.
According to the wire rod insiders, the sluggish demand for wire rod on building materials resulted in dropping prices on high-carbon steel material.Those materials mostly apply to building and infrastructure. However, the wire rod material for construction in China seems to turn weak gradually.
Baosteel announced its prices of wire rod with carbon cold heading quality and alloy cold heading quality around RMB5500/ton and RMB6550/ton for October