Chinese Makers Stops Offer for Wire Rod Export

Japanese carbon steel wire rod makers have few offers from the makers in China. Japanese steel wire makers would increase the import while Japanese wire rod price would significantly increase. On the other hand, the demand of wire rod is strong for construction in China. Major Chinese wire rod maker have a hard time meeting domestic demand while mid-and-small sized makers offer the extremely high export price or don’t offer the export price before the material cost significantly increases, according to Japanese importer source.

Japanese carbon steel wire rod import decreased by 70.2% to 6,476 tonnes in February from January and the import declined by 47.1% from a year earlier, according to Japan Wire Products Association. Wire rod makers in China seemed to reduce the export to Japan due to the firm domestic demand and the expectation for increase in the price.