Japan Steel Wires Import Shows Sharp Increase in April-July

Japanese galvanized steel wire import increased by 25.4% to 15,935 tonnes in April-July from the same period of 2009, according to Ministry of Finance. The import increased by 1.0% to 3,382 tonnes in July from a year earlier. The nail import increased by 62.3% to 27,514 tonnes in April-July and by 15.8% to 6,265 tonnes in July. The imported steel wire products and wire rod increase its market share while domestic wire rod price increased and the dealers’ profitability decrease.

Japanese wire rod import increased by near 70% to around 117,000 tonnes in April-July from the same period of 2009.

The wire rod import price from China is increasing. However, the price is relatively low due to the increasing yen exchange rate. Japanese steel wire products market price would decline, according to dealer sources. The market sources are concerned about increase in wire rod and steel wire products import.