Flat Carbon Steel Wire Price in Tokyo

Carbon steel wire price is flat around Tokyo. The price is 91,000 yen per tonne for product with 4 millimeters diameter and 83,000 yen for commodity grade product. The demand for civil engineering is low with the influence of the public investment reduction. However, the market price is expected to rise from the beginning of 2007 because the supply is tight. Japanese wire rod makers maintain their selling price after they raised selling price last spring. Consequently, the price gap expanded between domestic wire rod and import products. The import increased. Japanese steel wire products price didn’t rise due to cheaper steel wire products made by imported wire rod. The price keeps flat due to low demand for civil engineering. However, dealers expect the market price could turn upward soon thanks to price hike by domestic wire rod makers. However, Japanese wire rod import decreased by 29.1% to 14,018 tonnes in October from last month, according to Ministry of Finance. The import was downward trend.