Formosa Ha Tinh decided to keep wire rod prices unchanged for November orders. This decision came as international iron ore and coal prices continued to fall, putting pressure on global wire rod markets. In China, wire rod prices have fallen steadily and local steel mills have opted to maintain their current prices.
In addition to weak demand in China, global factors are also playing a role. The US recently increased trade protection measures, while demand in Europe has yet to recover after the summer break. Despite the slowdown in China's crude steel production, overall steel demand continues to weaken.
Meanwhile, local sales and export prices for wire rods in Vietnam are on a downward trend, reflecting weak local market demand and sluggish purchasing activity. As a result, the company faces significant challenges in securing new orders for the period ahead.
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