Carbon steel wire price is expected to continue weak tone after the beginning of next year when steel products prices such as rebar or H-beam is decreasing. Because users create the market price, dealers’ sales competition is becoming severe. Dealers expect the demand rebounds for January-March in demand season.
Dealers’ sales volume decreased by around 40% in December from a year earlier. Steel wire makers are increasing the purchase of wire rod from overseas for reduction of production cost. The shipping volume of steel wire products decreased by 33.4% to 397,000 tonnes for April-October from the same period of last year, while steel wire products import decreased by 3.9% to 111,765 tonnes. The shipping volume decreased to 66,000 tonnes by 15.9% in October from a year earlier, while the import increased to 12,334 tonnes by 7.1%. Chinese steel wire makers aren’t expected to reduce the selling price when raw material price is rising.Japan Steel Scrap Composite Prices (Sangyo Press)
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