Common Steel Wire Market Price Keeps Flat in Tokyo

Common steel wire market price keeps flat at 91,000 yen per tonne with 4 millimeters of diameter for standards, at 83,000 per tonne for general in Tokyo. The shipment from distributors is low despite of the demand season in autumn.

Some distributors said that the demand in autumn is not so strong as expected. The demand for civil engineering is low by the influence of the reduction in public investment. The demand for construction is stable but is less in volume.

Japanese wire rod makers raised their selling price in last spring. Drawing makers and distributors have not passed the increasing material costs on the selling price enough yet. Maker source said the price hike is necessity under the condition.

However, the makers are facing difficulty in price hike because cheaper overseas wire rod import continues to inflow at the high level mainly from China.