Posted on 16 Jan 2026
Wire rod offers are steady in Manila this week after rising by $15/tonne at the start of the year, Kallanish notes.
In Manila, Chinese mesh-grade 6.5mm diameter Q195 grade wire rod for February shipment is offered unchanged from last week at $490-495/t cfr. Small cargoes continue to be ordered at around $490/t cfr for February shipment.
A trader reports hearing such a booking on Tuesday for 2,000 tonnes. “I think the market is slowly and cautiously beginning to digest higher prices with customers starting to realise that the low price regime [Chinese VAT-evading exports] may be gone for good, or at least for now,” he says.
Kallanish assessed SAE 1008/Q195 6.5mm-8mm diameter wire rod at $485-490/t cfr Manila, up $5/t on week.
Last week, other ASEAN markets also saw offers from China jump by around $15/t when compared to pre-Christmas.
In Vietnam, Chinese 6.5/8mm diameter SAE 1008/Q195 wire rod is seen offered this week at $2/t higher compared to last week at $478-482/t cfr Vietnam. Offer prices vary depending on whether the shipment is for the first half or end of February, or first half of March, and whether it is for solely 6.5mm material.
Offers for Chinese 6.5mm wire rod have slipped to $495/t cif Thailand from $500-505/t cif last week. Thai buyers are only bidding at $480/t compared to $485/t cif last week.
"No one is importing right now because the import price is not competitive," says a Bangkok trader. He estimates that imported wire rod is at around $15-20/t lower than Thai-produced wire rod, a spread that will not garner buyer interest. "For imported products, you need to pay for customs, shipping fees and land transportation," he adds.
Indonesia’s Dexin Steel raised its export price for March-shipment wire rod by $5/t effective 15 January to $490/t fob.
Source:Kallanish
