China Wire Rod Makers Restart Export Offer to Japan

Chinese steel wire rod makers reoffer the export price to Japan. Chinese makers stopped the price asking or offered very high price due to the strong demand in China. However, the makers restarted reasonable offer when wire rod inventory is increasing in China, according to Japanese importer source.

The wire rod offer price is around C&F US$ 700 per tonne from China to Japan. However, some makers offer US$ 650-690, according to the source. Chinese wire rod price could decline though steelmaking material price is likely to increase more. Chinese market price is flat due to the cooling measures of real estate investment by the government, according to Japanese wire rod maker.

Japanese wire rod price would increase from the shipment in July. When the import price decreases, Japanese wire rod price and the demand are impacted by the decline.

Japanese wire rod import increased by 47.2% to 16,000 tonnes in March from February, which represented 22.4% year-on-year decline.