Godo Steel to Increase Wire Rod Price by 10,000 yen/t

Godo Steel announced on Monday the firm increases carbon steel wire rod and bar-in-coil selling price by 10,000 yen per tonne for April order or May shipment. The firm aims to pass higher ferrous scrap cost on the selling price following the price hike for February order.

Godo Steel’s wire rod and bar-in-coil selling price would be 20,000 yen higher than the level in the beginning of the year. The firm increases the selling price for April order to improve the profitability to keep stable supply under higher raw material cost including ferrous scrap and integrated steel makers’ steel billet.

Godo Steel sees imported wire rod price would increase under higher raw material price in global market while the price seems to decline due to temporary imbalance between supply and demand.