Taiwan increased exports and reduced imports of wire rod

According to the latest statistics, Taiwan's wire rod exports increased significantly during January 2015. Total wire rod exports stood at 18,777 tonnes for the month, up 16.3 percent from the previous month. Wire rod exports from the country during December 2014 totaled 16,145 tons. Export prices rose slightly on average and were up 37 TWD per tonne compared to the average price during December last year. (31.606 TWD = 1 USD)

According to industry sources, buyers in Saudi Arabia are showing increased interest in Chinese wire rod due to its competitive prices. The export price of these products from China is around $ 390 to $ 410 per tonne CFR, significantly lower than the current Saudi Arabian market price of around $ 500 per tonne.

On the other hand, Taiwan's wire rod imports dropped significantly during January this year. Average import prices have also declined this month. Wire rod imports totaled 23,192 tonnes during the month, down 10.7 percent from the previous month, when imports totaled 25,971 tonnes. At the same time, import prices averaged about TWD 17,600 per tonne. Import prices are down 336 TWD per tonne from an average price of 17936 TWD per tonne in December last year.