Kobe Steel Raises Special Wire Rod Export Price to Asia for Jul-Sep

Kobe Steel seems to have agreed in export price negotiation of special steel wire rod, mainly for steel code, bound for Asia shipped during July-September. The export price is likely to surge by US$ 350-400 per tonne compared with January-March shipping when the supply keeps tight in Asia due thanks to strong demand from automobiles or construction machineries. The firm will raise the price by over US$ 100 per tonne for October-December shipment compared with July-September.The demand for special steel wire rod keeps strong when productions of construction machineries and automobiles keep high. The demand for motorcycles is also increasing in advanced countries due to rising oil price. The supply of special steel wire rod is significantly tight when some special wire rod makers seem to have troubles in wire rod production lines.Kobe Steel exports wire rod for steel code. Order receipt volume is increasing when steel code makers are expanding production capacity.