Japan Wire Rod Import Deceases in September

Japanese ordinary steel wire rod import decreased by 60.7% to 7,250 tonnes by in September from a year ago, decreasing for 4 consecutive months since May, according to Ministry of Finance. The import especially increased in May before the decrease in the rate of tax refund in China.Japanese wire rod makers are seeking to raise their selling price when the import is decreasing. However, the import may increase again if the price gap increases between the import and domestic price as a result of the makers’ hike.