Weak Carbon Steel Wire Market Price in Tokyo

Carbon steel wire market price is flat with potential weakness around Tokyo. The price is at around 137,000 yen per tonne for higher grade and around 129,000 yen for commodity grade. Some dealers offer lower price for construction project under severe competition. Steady import from China impacts on the market price under slower demand.

One Trading firm source sees the order is increasing from public and private construction. However, the dealers’ shipment would keep slow due to long lead time. The shipment continues for construction projects around Tokyo but the supply is still loose.

The demand is also slow in China. The trading firm source sees Chinese players try to increase the export for Japan under oversupply in domestic market. Lower price of imported material would impact on domestic market under increasing yen rate.