Annealed Steel Wire Market Price Keeps Strong

Common annealed steel wire market price keeps flat with strong tone at 96,000 yen per tonne for products with 4 millimeters diameter around Tokyo. Supply of common steel wire products is tight when Japanese wire rod makers for integrated steel and electric furnace steel makers are reducing their outputs. The market price is expected to keep same level due to tighter wire rod supply.Distributors’ shipment increased by about 10% after Japanese long holidays in early May compared with a year ago and a month ago.Annealed steel wire makers are going through efforts to secure wire rod when wire rod makers are reducing their supply by over 10%. Some products by annealed steel wire makers are short in some sizes. Nippon Steel will raise the selling price by over 5,000 yen per tonne from June shipping.