Weak Steel Wire Market Price around Osaka

Steel wire products market price became weak around Osaka. Steel wire makers will raise the selling price to reflect rising wire rod price. But the users are requesting the price cut to steel wire makers when Tokyo Steel Manufacturing decreased the selling price for November orders along the price down of ferrous scrap.

Japanese wire rod makers have announced the price hike 3 times by September. Secondary processors announced the selling price such for nails or galvanized steel wires in September.

Tokyo Steel Manufacturing reduced the selling price of wire rod by 35,000 yen to 72,000 yen per tonne for the size with 5.5 millimeters diameter effective for November orders.

The demand from building construction is expected to keep slow though there are several big building projects around Osaka. Many dealer sources said the condominium building market would not recover soon even though steel wire makers reduce the selling price.