Japanese integrated steel makers’ wire rod export is slump in January-March due to very slow automobile demand. The steel makers face severe request for major price down for April-June while raw materials cost is uncertain in and after April.
The demand cooled when automakers are in major production cut while the wire rod export price increased by US$ 100-200 per tonne in every quarters through October-December 2008. A maker source expects the users’ inventory adjustment would finish in April-June but the adjustment could take longer time. Japanese wire rod export increased by 7.6% to 447,952 tonnes in 2008 from 2007 while the export decreased by 15.3% to 97,598 tonnes in October-December from same period of 2007.Japan Steel Scrap Composite Prices (Sangyo Press)
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