Ever since some major American steel plants raised the price of hot-rolled steel products, the hot-rolled steel products’ price in the Asian market was also moving up.

Also, as the global scrap price kept appreciating, the price for slabs and wire rods were influenced by that. The price of slabs and wire rods stopped depreciating and raising up as well.

Some traders said they have received offers of wire rods from Malaysia, Russian, and Turkey. Malaysian and Russian offers were more or less the same.

Turkish offers were relatively higher than Malaysian and Russian offers by 6% to 10%. It might be caused by the shipping cost and the cost of scrap metal.