Japan Ordinary Steel Wire Makers Increases Selling price

Japanese ordinary steel wire makers increased the selling price after October one after the other around Osaka when wore rod makers raised the selling price for the shipping in October, which is third price hikes in this year. Some dealer makes a forecast that makers’ price hike requires substantial time when the demand is slow and speculative demand isn’t generated. Nippon Steel, Nakayama Steel Works and Godo Steel announced the price hike of wire rod by 10,000-15,000 yen per tonne for the shipping in October. Major steel wire products makers plan to increase the selling price for the shipping in October. Nichia Steel Works increased the selling price of all steel wire products by over 20,000 yen per tonne. Their price hikes was total over 50,000 yen per tonne from the beginning of this year. The demand is slow mainly from small-middle size building. Users hold back the purchasing of steel wire products on necessity minimum. Small dealers may not purchase it when they have much inventory. Major dealer source said small dealers remain small purchase. Wire rod makers will keep cutting supply. However, the supply and demand is seemed to become loose when the demand is weak and the overseas products are continuing to be imported. Consequently, dealers forecast the penetration of the price hike isn’t easy.