Posted on 03 Jan 2008
China wire rod suppliers to raise prices
China's government has announced to raise its export tax on wire rod from 10 percent to 15 percent in 2008.
Therefore, domestic wire rod suppliers raised sharply the selling price in order to offset the tax cost.
The new export price of grade K is CFR US$735/ton and grade A is CFR US$765/ton. Currently, the price for Grade K wire rod in Taiwan is close to NT$24,000~25,000/ton which is almost at the same level compare to China's new price.
