Firm Carbon Steel Wire Price in Tokyo

Carbon steel wire market price is firm at 90,000 yen per tonne for product with 4 millimeters thick and at 98,000 yen for galvanizing wire around Tokyo. The major distributors succeeded to increase the reselling price by 5,000 yen to cover the makers’ 5,000 yen hike for February shipment. The price is likely to keep firm when a major wire maker will increase the selling price by 5,000 yen more for May shipment. The distributors’ shipment is slower despite of firm demand for automobile and building. However, the wire rod supply gets tighter when integrated steel and electric furnace steel makers shift the steel source to special steel for automobile, construction and industrial machinery and export instead of carbon steel wire rod. The tight rod supply reduces the steel wire supply and a wire maker source said the inventory has some stock out sizes. The tight supply lifts the market price along with the makers’ hike. Wire makers try to increase the selling price under the tight condition.