Steel Wire Price Increases in July

The market price of common steel wire products is rising when wire rod makers raised the selling price by over 20,000 yen per tonne and wire fabricators reflected the upsurge of cost price by 25,000 yen for June-July. The market price is expected to keep rising tone.

Wire product makers increased the selling price by total over 40,000 yen per tonne in March-April and June-July. Wire product market price increased by 6,000-11,000 yen per tonne during 1-15 June from last month. Common nail price is 145,000 yen per tonne with 100 millimeters diameter. Annealed steel wire price is 150,000 yen with 4 millimeters diameter. Galvanized steel wire price is 185,000 yen with 4 millimeters diameter. These prices increased by 9,000-10,000 yen per tonne from the first half of June.

A dealer source said dealers’ price hike becomes harder in July compared with March-April when the demand seasonally decreases every year. International wire rod price is significantly rising. Japanese steel wire makers are having trouble purchasing wire rod. Some dealer prospects wire rod makers may increase selling price in July-September.