Japan Import Wire Rod Price to Bottom Out

Imported steel wire rod price is flat at low level in Japan. The price is lower than wire rod by Japanese blast furnace and electric furnace steel makers. However, the price shows a sign to rebound at home and abroad. Many Japanese industry interests see the imported price declines not so much.

Japanese wire rod import was 12,200 tonnes from China and 11,900 tonnes from South Korea in June, according to Ministry of Finance. The averaged price was CIF 45,800 yen per tonne from China and 60,100 yen from South Korea. The import price of wire rod from China marked the yearly low in June while the price stayed around 50,000 yen after the price dropped to less than 50,000 yen in January.

The import price from South Korea turned downward since the beginning of the year while the price was flat in 2008. The averaged price was flat at 60,000 yen per tonne in April-June 2009.Japanese wire rod import was 117,900 tonnes in January-June, which was 7.1% lower than the same period last year.

Many sources see the imported wire rod price bottomed out when the steel market price rebound at home and abroad. However the trend is unforeseeable when Japanese steel wire products makers could purchase low priced import wire rod and overseas rod makers could increase the supply if the demand recover.