[SMM Steel] Indonesian Wire Rod Prices Remain Low
[Indonesia] Indonesian wire rod prices are currently stable at 475 USD/metric ton FOB. These prices are no longer fluctuating within the range seen in previous days, as mills in Indonesia are ready to offer buyers a price of 475 USD/metric ton FOB. This is due to pressure, primarily from Chinese products, which continue to experience price declines and have successfully pushed Indonesian wire rod prices lower. However, barring any additional pressure, this may be the lowest price, as some Chinese steel mills are only able to sell at 480 USD/metric ton; thus, pressure on Indonesian prices may ease slightly going forward.