Kobe Steel to Hike Wire Rod and Bar by 10,000 yen/t in July

Kobe Steel increases the price of steel wire rod and steel bar by more than 10,000 yen per tonne from July 1 shipment, announced on Tuesday. Kobe Steel increases the price when steelmaking raw material cost would increase in July. The firm raised the price by 15,000 yen for April shipment.

Kobe Steel increases the price of carbon steel wire rod and bar, high carbon wire rod and special steel wire rod and bar. The output of the special steel wire rod and bar is expected to keep high level under firm activity in automobile and other industry at home and overseas. The demand of high carbon steel wire rod including steel cord material is strong in China and Southeast Asia. Carbon steel wire rod demand is firm for the development of infrastructure in Asia while the demand is slow in Japan.

Kobe Steel decided the price hike to keep stable supply when steelmaking raw material cost is anticipated to increase in July-September from April-June and wire rod and steel bar demand keeps firm. When steelmaking material cost increases more than expected, Kobe Steel plans to seek another increase in steel selling price after July.