Carbon Steel Wire Price Sounds to Drop around Tokyo

Carbon steel wire products market price is unforeseeable around Tokyo. The current price is 185,000 yen per tonne for galvanized steel wire for the size with 4 millimeters diameter, 143,000 yen for annealed steel wire and 132,000 yen for common steel wire for commodity grade products. Dealers’ shipment hasn’t recovered despite of the yearly demand season of autumn. The demand stays low. The market price rebound would take a time when import of wire rod and wire products keeps high. On the other hand, some dealers suppose the supply may shorten as soon as the demand recovers because of minimized inventories in the market.

Japanese carbon steel wire products shipment decreased by 37.2% to 55,000 tonnes in July from a year earlier, according to Japan Wire Products Association. Japanese carbon steel wire import decreased by 0.7% to 18,145 tonnes in July from a year earlier. Many dealers recognize the market price hit bottom but they prospect the market price may drop when Chinese wire product price is decreasing. Japanese wire rod makers will raise the selling price due to rising ferrous scrap price, while concerned about weak trend of the market price.