Japan Wire Rod Import Increases from Chia in High Yen rate

Japanese imported wire rod price is flat at over 60,000 yen per tonne from China. The amount of the imported wire rod is increasing from a year earlier. Imported volume is expected to increase due to high yen rate. Japanese carbon steel wire makers seem to continue heavy sales competition.

Average imported wire rod price was 62,100 yen per tonne from China in June, left unchanged for April-June, while increased by about 10% from January. Imported volume was 131,500 tonnes for January-June, and increased to 82,400 tonnes for April-June from January-March.

On the other hand, imported wire rod price increased by 7.6% to 86,600 yen per tonne from South Korea. Imported volume was 35,500 tonnes for January-June. Imported price increased until May, and left unchanged in June, and was same trend with overseas market.

Domestic wire rod makers increased the sales price by 20,000 yen per tonne. But the price hike didn’t penetrate the market enough. The market price hit ceiling for steel wire products after July when the demand is weak for building and civil engineering. Some dealers are forced in price cut.