Japan Wire Rod Import Jumps by 88% in June

Japanese import of carbon steel wire rod increased by 88.3% to 32,083 tonnes in June from a year earlier, according to Ministry of Finance. The import decreased by 21.8% from May. The import from the largest source of China was 31,201 tonnes in June, which was 11.9% lower than May and 73.5% higher than June 2005. The import from South Korea was 882 tonnes. The domestic industry expects lower import from China results in lower supply of cheaper wire products made with imported rod. With the better supply balance, the domestic interests expect they could pass higher cost price on the selling price.