Higher Carbon Steel Wire Rod Price in Osaka

Carbon steel wire rod price increased by 5,000-7,000 yen per tonne from the beginning of the year around Osaka after the hike by rod makers in January and February. The market price is likely to keep firm despite of the slower demand with makers hike for April-May. Godo steel and Nakayama Steel Works increased the selling price by more than 5,000 yen per tonne in January and February. The drawing wire makers also increased the selling price by 7,000 yen per tonne for steel wire and by more than 12,000 yen for nail and special nail to cover higher cost for rod and freight from January. The distributors succeeded to pass the higher cost price on the market. The market price increased by 5,000-7,000 yen to 93,000-95,000 yen per tonne for steel wire. Godo Steel and Nakayama Steel Works announced second hike for May shipment increasing the selling price by total more than 10,000 yen per tonne. A distributor said the supply could keep tight when ferrous scrap price is more than 35,000 yen per tonne.