Cheap Import Offer Impacts on Japan Wire Rod Market

Japanese import unit price of wire rod turned into decrease. The averaged price from China exceeded CIF 100,000 yen per tonne in July compared with 66,000 yen in January. However, the import offer to Japan drops sharply recently and apparently decreased to US$ 600-700 or less when steel demand decreases under slower economy and financial squeeze. The domestic market interests see Tokyo Steel Manufacturing’s major price cut for November order is to compete with cheap import offer.