[SMM Steel] Indonesian Wire Rod Slips $3/mt to $502 FOB as Major Mill Cuts Price to Defend Market Share

Published: Oct 12, 2026 15:29 (GMT+8)

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[Indonesia] Wire rod prices fell by about USD 3/metric ton today to USD 502/metric ton FOB, a move by the major mill to defend its market position. Some traders are turning to products from Java or small wire rod mills, as one major mill is considered to be out of stock and buyers need faster suppliers. These suppliers’ offers are about USD 25/metric ton lower than those of the major mill. If demand continues at this pace and buyers are satisfied with these prices, the major mill may cut prices again to stop market share from shifting to smaller mills. However, price cuts alone may not be enough to win buyers back, since the major mill cannot produce on time and is likely to keep losing market share gradually.

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